Linde India JV completes sale of plant to JSW Steel
Gas

Linde India JV completes sale of plant to JSW Steel

The joint venture company has since handed over the possession of the 855 tpd ASU

  • By ICN Group | November 17, 2021

Linde India’s joint venture company, Bellary Oxygen Company Private Ltd. has accepted JSW Steel Ltd.'s offer for purchase of the 855 tonnes per day Air Separation Unit (ASU) and other related assets owned by the aforesaid joint venture company, which form part of the Belloxy Divestment.

In view of the expiry of the gas supply contract with JSW Steel, Bellary Oxygen Company has signed and executed the Asset Sale Agreement with JSW Steel and has received the consideration amount of Rs. 50 crores for the transaction.

The joint venture company has since handed over the possession of the 855 tpd ASU and other related assets to JSW Steel and has also signed the closing documents on15 November 2021.

As a consequence of the above, the Hold Separate Arrangement in respect of the Belloxy Divestment will come to an end.

 

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