Air Liquide: new contract with LG Chem in US
(CercleFinance.com) - Air Liquide announced on Tuesday evening that it would be investing about $150m to expand its capacities in the US as part of a new long-term contract with LG Chem in Tennessee.
The industrial gases producer has been chosen to supply oxygen to the South Korean group's future plant, designed to manufacture battery components for electric vehicles, the number of which is set to more than triple by 2030.
Air Liquide states that the project will consist of building, owning and operating a second air separation unit, a liquefier, a storage system and a pipeline at its Airgas production site in Clarksville, inaugurated in 2013.
With this investment, Airgas will also more than double its local production of liquid nitrogen, oxygen and argon.
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The industrial gases producer has been chosen to supply oxygen to the South Korean group's future plant, designed to manufacture battery components for electric vehicles, the number of which is set to more than triple by 2030.
Air Liquide states that the project will consist of building, owning and operating a second air separation unit, a liquefier, a storage system and a pipeline at its Airgas production site in Clarksville, inaugurated in 2013.
With this investment, Airgas will also more than double its local production of liquid nitrogen, oxygen and argon.
Copyright (c) 2024 CercleFinance.com. All rights reserved.