Linde, the global leader in industrial gases and engineering, has scheduled strategic expansion in India. The company has agreed to purchase two air separation units and increase supply of industrial gases for Tata Steel Limited located at Odisha. This expansion is expected to aid capacity building by Tata Steel at Kalinganagar Industrial Complex.

The acquisition of the two large ASUs, which are currently under construction, is expected to more than double Linde's on-site production capacity once the transfer is completed in 2025. Linde has also secured a long-term agreement with Tata Steel for the supply of oxygen, nitrogen, and argon, essential for steel manufacturing processes.

In alignment with Linde's commitment to environmental sustainability, the company has arranged agreements for the supply of renewable energy to the plant. This initiative is part of Linde's broader goal to reduce Scope 2 greenhouse gas (GHG) emissions by 2035.

Moloy Banerjee, President ASEAN & South Asia at Linde, highlighted the significance of the agreement, stating, "The new agreements to support Tata Steel's major capacity expansion build on our existing long-term relationship and further strengthen our position as a supplier of critical industrial gases to the steel industry." Banerjee emphasized that the project aligns with Linde's investment criteria and is expected to contribute to sustainable growth for the company while enhancing its network density in a key industrial region of India.

Linde, with sales of $33 billion in 2023, serves diverse end markets including chemicals & energy, food & beverage, electronics, healthcare, manufacturing, and metals and mining. The company's industrial gases and technologies are integral to applications such as clean hydrogen production, carbon capture systems, medical oxygen, and high-purity gases for electronics manufacturing. Linde's gas processing solutions also support customer expansion, efficiency improvements, and emissions reductions.

In other recent news, Linde, the industrial gas giant, has been making significant strides. The company reported record second-quarter earnings per share (EPS) of $3.85, surpassing estimates from various financial firms. Deutsche Bank, BMO Capital Markets, and JPMorgan have all increased their price targets for Linde, reflecting confidence in the company's growth trajectory. Linde's management has also highlighted the company's new clean hydrogen contract with Dow, indicating potential for expansion as the market evolves.

Despite the challenging macroeconomic environment, Linde is predicted to maintain its growth trajectory, with BMO Capital forecasting a 9% and 10% increase in earnings per share (EPS) for the years 2024 and 2025, respectively. Analyst notes from Deutsche Bank and JPMorgan have also mentioned Linde's potential for volume recovery as a key factor for the company's future growth.

In addition to these developments, Linde's Annual General Meeting approved executive pay, the election of directors, and the ratification of PricewaterhouseCoopers as the independent auditor. For 2024, Linde's full-year EPS guidance is set between $15.40 and $15.60. These recent developments reflect the company's strategic positioning and financial discipline in the industrial gas market.

Linde, the global leader in industrial gases and engineering, has scheduled strategic expansion in India. The company has agreed to purchase two air separation units and increase supply of industrial gases for Tata Steel Limited located at Odisha. This expansion is expected to aid capacity building by Tata Steel at Kalinganagar Industrial Complex.