Sector News

Air Liquide to invest 130 mln euros in Russian site

May 29, 2018
Energy & Chemical Value Chain

French industrial gases company Air Liquide confirmed on Monday it would invest around 130 million euros ($152 million) in the construction of a plant in Novokuznetsk, Russia.

Interfax quoted Kemerovo Region interim Governor Sergei Tsivilev referring to a total investment of more than 900 million euros over 20 years.

“This is intended for 20 years in stages. The overall amount of investment is more than 900 million euros [for] all stages,” Tsivilev was quoted by Interfax as saying, adding the timetable would depend on the development of the regional economy.

The company said on Thursday it would invest around 130 million euros for the construction of two Air Separation Units (ASUs).

Air Liquide did not comment on the figure of 900 million euros cited by Interfax.

($1 = 0.8565 euros)

Source: Reuters via Nasdaq

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