Linde Expands Agreement with Steel Authority of India Limited

Woking, UK, January 25, 2024 – Linde (Nasdaq: LIN) announced today it has expanded its existing long-term agreement for the supply of industrial gases with Steel Authority of India Limited (SAIL), one of the largest steelmaking companies in India.

Linde currently supplies oxygen, nitrogen and argon to SAIL’s Rourkela steel plant in Odisha, eastern India, from two on-site air separation units (ASUs), which are operating at full capacity. Under the terms of the new agreement, Linde will now build, own and operate an additional 1,000 tons per day ASU, nearly doubling Linde’s on-site production at Rourkela. Linde’s investment is expected to be approximately $60 million.

Linde’s energy-efficient ASU will supply oxygen, nitrogen and argon to support SAIL’s expansion and modernization program at Rourkela. Expected to come online in 2026, Linde’s new facility will also supply industrial gases to Linde’s existing and new local merchant customers in the region.

“We look forward to supporting SAIL’s expansion, building on our track record of safely and reliably supplying industrial gases across three major sites,” said Moloy Banerjee, President ASEAN & South Asia, Linde. “This investment will also enhance Linde’s local network density in Odisha, enabling us to meet demand for industrial gases in one of the fastest growing regions in India.”

About Linde

Linde is a leading global industrial gases and engineering company with 2022 sales of $33 billion. We live our mission of making our world more productive every day by providing high-quality solutions, technologies and services which are making our customers more successful and helping to sustain, decarbonize and protect our planet.

The company serves a variety of end markets such as chemicals & energy, food & beverage, electronics, healthcare, manufacturing, metals and mining. Linde's industrial gases and technologies are used in countless applications including production of clean hydrogen and carbon capture systems critical to the energy transition, life-saving medical oxygen and high-purity & specialty gases for electronics. Linde also delivers state-of-the-art gas processing solutions to support customer expansion, efficiency improvements and emissions reductions.

For more information about the company and its products and services, please visit linde.com