SINOPEC, Linde sign EUR 145M JV

SINOPEC and The Linde Group have established a EUR 145M JV to supply vital industrial gases to local customers from key industries such as petrochemical, steel and electronics, within the Ningbo Chemical Industrial Zone in China’s Zhejiang province.

SINOPEC Zhenhai Refining & Chemical Company (ZRCC) and Linde will each hold a 50% stake in the newly formed Ningbo Linde-ZRCC Gases Company Ltd (Linde-ZRCC), the sixth consecutive joint venture between the companies. The agreement will see Linde-ZRCC acquire two existing air separation units (ASUs) from ZRCC and construct a third for a combined 150,000 m3/h of oxygen capacity. The new ASU, expected to be on stream in 2018, will incorporate Linde’s intelligent solutions for remote operation, diagnostics and analytics, as well as a modular design to increase efficiency, reduce energy requirements and enhance flexibility of production.

These three additional ASUs will double Linde production capacity of air gases in the Ningbo cluster and will be connected to Linde’s pipeline supply network across Ningbo.

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