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Kolkata-headquartered Linde India Ltd. gained nearly 2 percent in trade on Friday hitting an intraday high of Rs 3,459 apiece on the BSE after the company announced beginning mechanical construction work at its new air separation unit in Ludhiana, Punjab.

The upcoming plant will be Linde’s second plant in the northern region of India, the other one being at Selaqui, Uttarakhand. The production capacity of the new plant will be 250 TPD (tonnes per day) and the new air separation unit is expected to be operational by the end of this year.

The additional supply will support the expansion of Linde’s footprint in North India. This plant would also significantly enhance the capacity of Liquid Medical Oxygen production in Punjab.

Linde is a leading global industrial gas and engineering company that offers high-quality solutions, technologies, and services.

Recently, Linde acquired the remaining interests in nexAir LLC, one of the largest independent packaged gas distributors in the United States with $400 million in sales in 2022. Linde’s wholly-owned subsidiary Linde Gas and Equipment Inc. (LG&E) has had a minority interest in nexAir since 2012 and LG&E purchased the remaining 77.2 percent.

The Linde India Ltd. stock ended 0.41 percent lower at Rs 3,415 on Friday.

(Edited by : Rukmani Krishna)