Linde Starts Up Supply of Industrial Gases to PT Freeport Indonesia
Rhea-AI Summary
Linde (NASDAQ:LIN) has initiated industrial gas supply to PT Freeport Indonesia, investing $120 million in a new on-site air separation unit (ASU). This facility, the largest ASU in Indonesia and Linde's largest in southeast Asia, will supply oxygen and nitrogen to PT Freeport's new copper smelter in Manyar, one of the world's largest copper processing sites. The ASU will also provide liquefied industrial gases to customers in East Java, expanding Linde's network density. The gases will help improve copper smelting efficiency by increasing production capacity while reducing fuel consumption and emissions.
Positive
- $120 million investment in new ASU facility, largest in Indonesia
- Strategic expansion into growing copper processing market
- Additional revenue stream from bulk customers in East Java
- Enhanced network density in key industrial market
Negative
- None.
News Market Reaction – LIN
In the trading session that priced this news, LIN declined 0.28%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
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WOKING, UK / ACCESSWIRE / October 29, 2024 / Linde (NASDAQ:LIN) announced it has started up the supply of industrial gases to PT Freeport Indonesia, a leading mining company in Indonesia and subsidiary of Freeport-McMoRan Inc.
Linde has invested
"As demand for copper continues to increase globally, we are proud to support PT Freeport Indonesia's expansion," said Moloy Banerjee, President, ASEAN & South Asia, Linde. "Industrial gases help improve the efficiency of copper smelting by increasing production capacity while lowering fuel consumption and emissions. Linde's new on-site facility uses our advanced technology to supply essential industrial gases safely and reliably to all our customers in an important industrial market."
About Linde
Linde is a leading global industrial gases and engineering company with 2023 sales of
The company serves a variety of end markets such as chemicals & energy, food & beverage, electronics, healthcare, manufacturing, metals and mining. Linde's industrial gases and technologies are used in countless applications including production of clean hydrogen and carbon capture systems critical to the energy transition, life-saving medical oxygen and high-purity & specialty gases for electronics. Linde also delivers state-of-the-art gas processing solutions to support customer expansion, efficiency improvements and emissions reductions.
For more information about the company and its products and services, please visit linde.com
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SOURCE: Linde plc
View the original press release on accesswire.com