SHANGHAI, April 27, 2011 /PRNewswire-Asia/ -- Praxair (China) Investment Co. Ltd., in a joint venture with Chongqing Chemical and Pharmaceutical Holding Group Company (CCPHC), will supply the oxygen, nitrogen and clean dry air to a major integrated chemical production complex in Chongqing (Changshou) Chemical Industrial Park, a new inland economic zone in the industrial capital of western China. The parties signed the joint venture contract and pipeline supply contracts on April 11, 2011.
As part of the 60-40 joint venture, Praxair will build and operate two air separation units with total capacity of 5,000 tons per day of gaseous oxygen. The facility will supply by pipeline a world-scale integrated chemical production complex anchored by a BASF methylene diphenyl diisocyanate (MDI) production plant. MDI is widely used in the manufacture of polyurethane for plastics, and insulation for refrigeration and buildings. Praxair's new facility also will supply liquid oxygen, nitrogen and argon to the rapidly growing merchant market in the region. Start-up is scheduled for the first half of 2014.
"As we develop this major integrated chemical production complex, it is important that we work with world-class companies like Praxair as our partners that apply most advanced technologies and have a sterling reputation in safety, reliability and flawless project execution." said An Qihong, Chairman of CCPHC.
"We are pleased to demonstrate our strong commitment to the development of this important and fast growing region of inland China. We will execute the project in accordance with the overall integrated project schedule by working closely with CCPHC," said Dr. Minda Ho, President of Praxair China.
Chongqing is the largest city in China with a population of 32 million, located on the upper Yangtze River in western China. The Chongqing government is investing to build the Changshou Economic Development Zone into a world-class chemical industry park, with a total initial investment of over $5 billion US$ on the MDI Integration Projects.
About Praxair China
Praxair (China) Investment Co., Ltd is a leading industrial gas provider in China headquartered in Shanghai. It has 20 wholly owned companies, 9 joint ventures and over 1,300 employees in the country. More information on Praxair China is available on the Internet at www.praxair.cn
About Praxair
Praxair, Inc. (NYSE:PX) is the largest industrial gases company in North and South America, and one of the largest worldwide, with 2010 sales of $10 billion. The company produces, sells and distributes atmospheric, process and specialty gases, and high-performance surface coatings. Praxair products, services and technologies bring productivity and environmental benefits to a wide variety of industries, including aerospace, chemicals, food and beverage, electronics, energy, healthcare, manufacturing, metals and others. More information on Praxair is available on the Internet at www.praxair.com.
