Industrial gas suppliers Air Liquide and Praxair plan to invest USD 100 million by 2005 in a venture supplying gas to a mammoth Shanghai chemical industry park, company executives have said. The companies would set up two gas plants “for several tens of million dollars” by 2003 to supply gases such as hydrogen, nitrogen and carbon monoxide to clients moving production to the site, they said. BASF, Huntsman and Bayer are among chemical titans building plants in the park, which Shanghai officials hope will be Asia’s largest when its first phase is completed in 2005. “The two firms will have jointly sunk $100 million into the project by the time we complete its second phase,” said Juno Chen, a communications executive at Praxair, the world’s third largest industrial gas supplier. “Final investment would actually depend on what happens during the first phase, when we would get a clearer picture of future demand,” she said.
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