Linde India has been awarded a 'Letter of Acceptance' on 22 August 2023 by Indian Oil Corporation Limited (IOCL) in connection with the job work contract for setting up of Air Separation Unit (ASU) on a site licensed by IOCL within its Panipat Refinery complex for production and supply of Instrument Air, Plant Air and Cryogenic Nitrogen to IOCL Panipat Refinery Expansion Project (P25).

On completion of the construction and the performance test of the aforesaid ASU, Linde India will enter into requisite agreements with IOCL for operating and maintaining the facility for a period of 20 years from the first delivery date. Linde India expects to fund the capital expenditure by its own funds/internal accruals.