LONDON (dpa-AFX) - Linde plc (LIN), an industrial gases and engineering company, on Monday announced that it has signed a new long-term agreement with Blue Point Number One for on-site supply of Oxygen and Nitrogen gases to an upcoming low-carbon ammonia plant in Ascension Parish, Louisiana.
As per the Build-Own-Operate or BOO agreement, Linde will invest $400 million for an air separation unit, which aims to produce 1.4 million metric tons annually. The plant is expected to begin operations in 2029.
The air separation unit will be the largest of its kind in southeast Louisiana's Mississippi River corridor, strengthening the company's presence in the region and enhancing its existing hydrogen and syngas infrastructure along the U.S. Gulf Coast.
Blue Point Number One is a joint venture formed by CF Industries, JERA, and Mitsui & Co.
In the pre-market trading, Linde is 0.18% higher at $456.70 on the Nasdaq.
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