AI Air Liquide SA

   By Cecilia Butini 
 

Air Liquide SA said Thursday that it is entering into a partnership with Russian steel producer Novolipetsk Steel, in which it will invest about 100 million euros ($114 million) in a site in Lipetsk, western Russia.

The French company, which focuses on the distribution of gases for a variety of industries, said it will build and own a new air-separation unit at the NLMK site, which will help the plant increase its steel production. The new unit will be ready in 2023, the company said.

Air Liquide Executive Vice President Francois Jackow said the partnership would help toward more energy efficiency at the site.

"This is a concrete illustration of how Air Liquide can contribute to a modern responsible industry," he said.

The company has operated in Russia since 1989 and founded its Russian subsidiary, OOO Air Liquide, in 2005.

Write to Cecilia Butini at cecilia.butini@wsj.com

(END) Dow Jones Newswires

July 16, 2020 04:49 ET (08:49 GMT)

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