Linde Expands Agreement with Steel Authority of India Limited
Portfolio Pulse from Charles Gross
Linde (NASDAQ:LIN) has expanded its long-term industrial gases supply agreement with Steel Authority of India Limited (SAIL). Linde will build a new air separation unit (ASU) at SAIL's Rourkela plant, increasing its on-site production capacity. The investment for the new ASU is around $60 million.
January 25, 2024 | 11:06 am
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POSITIVE IMPACT
Linde's expanded agreement with SAIL to build a new ASU for $60 million could increase its revenue stream and strengthen its position in the Indian market.
The expansion of Linde's agreement with SAIL indicates a strategic growth in a significant market, likely leading to increased revenues from the new ASU. This positive development is expected to be viewed favorably by investors, potentially leading to a short-term uptick in Linde's stock price.
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