Murray Hill, N.J., U.S., October 2, 2006 - BOC-TISCO, the joint venture (JV) between BOC and Taiyuan Iron and Steel Corporation (TISCO), has begun supplying gases from a new air separation unit (ASU) at TISCO's stainless steel plant, located in Shanxi province in north-central China.
BOC-TISCO's new 1,400 tonne-per-day ASU, which came on stream in July, is supplying liquid and gaseous oxygen to enable the steel plant's phased expansion from 900,000 tonnes per year to 3 million tonnes per year. This latest investment brings the number of ASU's on site to five and in addition to supporting TISCO's vigorous expansion plans it also helps BOC-TISCO meet growing regional gas demand.
Steven Fang, business unit head responsible for managing BOC's tonnage business in China, said: "We are committed to helping TISCO triple its stainless steel capacity, and are adding the latest available technology to our integrated gas complex to provide TISCO with more flexibility and reliability in its operations."
CHEN Chuan Ping, board chairman of TISCO, said "BOC and TISCO have shared a long and successful partnership, spanning more than 10 years. During this time, BOC has delivered a continuous and reliable supply of gases to meet our business needs and the growing demand by our customers. We are pleased to continue our partnership with BOC on this world-class plant expansion."
A second 1,400 tonne-per-day oxygen plant is currently being installed as part of phase two of the expansion project. Following its completion, the site will be the largest stainless steel producer in China and one of the largest stainless steel production sites in the world. Total steel output for TISCO was 5.39 million tonnes in 2005 and will rise to 8 million tonnes per year following the project's completion.
Demand for stainless steel is generated largely from customers in the oil and gas, petrochemical, automotive and shipyard industries in China.
BOC-TISCO was formed in 1996 with an initial capital investment of USD30million. The plant expansion currently underway will further continue the partnership between BOC and TISCO.
BOC was the first industrial gases company to invest in China in 1987. BOC's investments, particularly in the chemicals, electronics and metals sectors in China, now total around US$600 million.
BOC is a member of The Linde Group. The Linde Group is a world leading industrial gases and engineering company with more than 53,000 employees working in around 70 countries worldwide. Following the acquisition of The BOC Group the company has gases and engineering sales of approximately USD15.3 billion (€12 billion). The strategy of The Linde Group is geared towards earnings-based growth and focuses on the expansion of its international business with forward-looking products and services.
For more information, please see The Linde Group online at http://www.linde.com.
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