BOC has today signed a contract for the supply of oxygen to the Taiyuan Iron and Steel Corporation (TISCO), located in the Shanxi province of north central China.
The contract calls for an investment of over £50 million by BOC-TISCO, the joint venture between BOC and TISCO. BOC-TISCO will install two additional air separation units (ASUs) at TISCO’s steel plant to increase the supply by 2,800 tonnes a day of oxygen, as well as significant quantities of nitrogen and argon.
When the ASUs begin operating at the end of 2005, the complex, which currently supplies 1,500 tonnes a day, will be the largest third party gases supply scheme in China.
TISCO is the largest stainless steel producer in China. The company estimates that its current production of nearly 600,000 tonnes a year of crude stainless steel will rise to 900,000 tonnes by 2005, which will make it one of the five largest stainless steel producers in the world.