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Industrial gas manufacturer BOC India Ltd, a subsidiary of the Germany-based Linde Group, will raise Rs 800 crore unsecured loan from the parent company in compliance with the external commercial borrowing (ECB) guidelines to fund its expansion plan. It will raise the amount by 2011.

 

The promoter group at present holds 89.48% share in the company while the rest is with the public. BOC Group Plc, a group company of Linde Group of Germany, increased its shareholding in the company from 54.8% to 73.99% in 2008.

 

BOC plans to invest around Rs 1,500 crore by 2012 towards its expansion plans. While Rs 800 crore will come from the parent company in tranches, the rest will be sourced through internal accruals.

 

The capital expenditure plan of the company for air-separation units includes a plant with a capacity of 2,550 tonne per day (tpd) for Tata Steel in Jamshedpur; 400 tpd plant for Jindal Steel & Power Ltd; and two plants of 855 tpd capacity each at the Rourkela Steel Plant of SAIL with a capacity of producing 400 tpd of liquid products to meet demand in the merchant market. Apart from that, the company will also invest in merchant oxygen plants with an aggregate capacity of 600 tpd by 2012.

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