Air Water India Private Limited, wholly owned subsidiary of Air Water, has decided to construct a new plant to produce liquefied gasses, namely, liquefied oxygen, liquefied nitrogen and liquefied argon, in Chennai, Tamil Nadu. The plant will have a production capacity of liquefied oxygen: 5,100N ㎥/h, liquefied nitrogen: 1,600N ㎥/h, liquefied argon: 200N ㎥/h.

Construction will start in October, 2023 and operation is scheduled to take place in October 2024. The company anticipates that the construction of a new production base in the southern area of India will accelerate the growth of its businesses in India.

The company positions its overseas industrial gas supply business as a driver of the Company's overall growth, for which it believes that India will play a particularly important role from a strategic point of view. The Indian government established the goal of increasing its crude steel production capacity to 300 million tons, more than double its current level, by 2030. In addition, given the further growth of its economy and a rise in population, demand for industrial gasses in India is expected to remain strong.

In 2019, the company acquired part of the industrial gas business from the subsidiaries of two industrial gas majors that had been operating the industrial gas business in India. Taking advantage of the acquisition, the Company has been operating an on-site supply business for India's largest and second largest steel plants while simultaneously engaging in a lorry and cylinder business in the eastern and southern areas of India.

Air Water India's businesses are currently being developed under the basic strategies of winning new projects for “on-site supply for steel plants” and “building production and logistics infrastructure through the innovative expansion of bases into broad areas”.

The company is working to expand the network of an industrial gas supply infrastructure, essentially production, filling and transportation. It is also expanding its business from eastern India, where many steel-related industries are based, into southern India, home to the country's auto industry, and northern India, centering on the Delhi metropolitan region, with a view toward further expansion.