PARIS (dpa-AFX) - Shares of Air Liquide SA (AIQUY.PK) were gaining around 2 percent on Paris trading after the French industrial and medical gases maker said Friday that it recently signed a new long-term contract with Xinneng Energy Co., a unit of ENN Ecological Holdings Co.
Under the terms of the new agreement, Air Liquide will invest more than 60 million euros in an Air Separation Unit, with a total capacity of 2,700 tonnes of oxygen per day.
The new unit is expected to start operations in the second quarter of 2018, and it will supply industrial gases including oxygen and nitrogen to ENN Ecological Holdings. The gases will be used in the customer's Light Hydrocarbon Project, which produces 200 thousand tonnes per year of light hydrocarbon, a chemical product widely used in the energy industry.
The ASU, located in Inner Mongolia, will be built by Air Liquide's Engineering and Construction teams using state-of-the-art technologies to offer energy efficiency as well as optimal reliability and safety, and will be owned and operated by Air Liquide.
In Paris, Air Liquide shaes were trading at 95.94 euros, up 2.23 percent.
Copyright RTT News/dpa-AFX