America’s leading industrial gas company Air Products and Chemicals can invest 5 to 10 billion dollars (about 74 thousand crores) in India in the next five years. The company will invest this in India’s coal gasification projects.
Air Products is the world leader in coal gasification and it also operates several world-class coal gasification complexes in India. In India, it has partnered with big companies like Coal India and through these supplies industrial gas to its customers.
What did air products say
The company has recently invested in Indonesia. Richard Boock, senior vice president and chief information officer of Air Products, told our associate website BusinessToday.In that the company will start with the first $ 2 billion investment in India, just like Indonesia. Air Products has more than 750 factories in 50 countries of the world and it supplies gas to more than 30 types of industries.
The company is now seeing India as a big market, because the coal sector is now being opened to the private sector in terms of energy security in India. Bukock said, ‘The industrial gas industry is largely at the local level, because its transportation is a big issue. India is a growing market for manufacturing and the consumption of industrial gas has increased due to the ‘self-sufficient India’ policies here.
What is coal gasification
It is important to note that recently the Ministry of Coal has set a target of gasification of 100 million tonnes of coal by the year 2030. Under coal gasification, coal is produced from syngas syngas or synthetic gas which is a mixture of several other elements including hydrogen and carbon dioxide. Air products have the technology to make syngas.