The world’s largest industrial gas company, Biosci, today formally cooperated with Sinopec Shanghai Petrochemical Co., Ltd., both of which decided to jointly establish an industrial gas joint venture with a capital ratio of 50 to 50 to meet the industrial needs of Shanghai and its neighboring regions. Gas requirements.
The joint venture company with a total investment of more than 80 million U.S. dollars has a registered capital of 32 million U.S. dollars. Among them, Shanghai Petrochemical has invested in the existing four air separation units (more than the value of the capital contribution purchased by the joint venture company), which is invested in cash compared to the European Union. In addition, the joint venture will build a new large-scale air separation plant with an oxygen production capacity of 1,400 tons per day. The total amount of oxygen, nitrogen and argon supplied by the joint venture company to Shanghai Petrochemical and the third party market will exceed 5,000 tons per day.
Shanghai Petrochemical hopes to further improve the reliability and stability of Shanghai Petrochemical's pipeline gas supply and ensure the gas supply to Shanghai Petrochemical under various working conditions to meet the needs of Shanghai Petrochemical's long-term, safe and stable gas use. .
For Bixie Group, the cooperation has played a good role in further expanding its business in China. Mr. Fang Shiwen, president of Biosci's large-scale gas supply China division, said that after the establishment of the joint venture, it is expected to become the main industrial gas supplier in the region, and the choice of cooperation with Shanghai Petrochemical will further strengthen the relationship with the Sinopec.
The joint venture company with a total investment of more than 80 million U.S. dollars has a registered capital of 32 million U.S. dollars. Among them, Shanghai Petrochemical has invested in the existing four air separation units (more than the value of the capital contribution purchased by the joint venture company), which is invested in cash compared to the European Union. In addition, the joint venture will build a new large-scale air separation plant with an oxygen production capacity of 1,400 tons per day. The total amount of oxygen, nitrogen and argon supplied by the joint venture company to Shanghai Petrochemical and the third party market will exceed 5,000 tons per day.
Shanghai Petrochemical hopes to further improve the reliability and stability of Shanghai Petrochemical's pipeline gas supply and ensure the gas supply to Shanghai Petrochemical under various working conditions to meet the needs of Shanghai Petrochemical's long-term, safe and stable gas use. .
For Bixie Group, the cooperation has played a good role in further expanding its business in China. Mr. Fang Shiwen, president of Biosci's large-scale gas supply China division, said that after the establishment of the joint venture, it is expected to become the main industrial gas supplier in the region, and the choice of cooperation with Shanghai Petrochemical will further strengthen the relationship with the Sinopec.
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