Ceylon Oxygen invest EUR 9.3 million in new merchant ASU

Ceylon Oxygen to invest EUR 9.3 million in new merchant ASU

11:11 AM, 10th June 2011
Ceylon Oxygen to invest EUR 9.3 million in new merchant ASU

COLOMBO, SRI LANKA: Ceylon Oxygen Ltd, a member of the Linde Group, announced it will invest LKR 1.3 billion (EUR 9.3 million) for the installation of a new 65 tons per day (tpd) merchant air separation unit (ASU) in Sapugaskanda. Scheduled to come on stream in September 2012, the new ASU will be built adjacent to the company’s existing ASU. The existing ASU will be maintained to ensure reliability of supply.

 

“As the market leader in Sri Lanka, Ceylon Oxygen is the sole supplier of liquid oxygen and liquid nitrogen. This new plant will be a milestone as it will produce argon and indeed it will make Sri Lanka fully self-sufficient in argon. We will soon be able to offer argon to the local market and potentially for export,” said Niran Pieris, CEO, Ceylon Oxygen.

 

Pieris added, “While our existing 24 tpd ASU is capable of meeting the country’s total oxygen requirements at present, we anticipate an expansion in demand in line with continued economic growth. Our new ASU will enable us to significantly increase our production capacity and enhance our product and service offerings to our existing and potential new customers in the hospital, ship-building and ship-repair, steel, glass, food and chemicals sectors.”

 

Speaking on behalf of Linde, Sanjiv Lamba, Regional Business Unit Head, Linde Gases Business in South & East Asia said, “The Linde Group acquired Ceylon Oxygen last October with the intent of participating in the rapidly growing Sri Lankan economy. This decision to invest in a new ASU will help to meet future demand and market opportunities in Sri Lanka.”

(C) WOC News

 

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