Praxair India, a leading industrial gases and related manufacturing company, plans to invest ₹210 crore over the next three years to establish liquid oxygen and nitrogen production units in Karnataka. The announcement follows the signing of a Memorandum of Understanding (MoU) with the State Government.
Investment to Begin This Financial Year
Karnataka’s large and medium industries minister MB Patil confirmed that Praxair India will commence its investment in the current financial year. The government will provide priority support, including land allocation, single-window clearances, and infrastructure facilitation, to ensure smooth implementation of the project.
Driving Growth and Innovation
Thehindubusinessline.com reports that Praxair India’s significant investment and the government’s proactive support will help Karnataka expand its industrial base in critical sectors such as industrial gases, aerospace, and defence technology. These initiatives will drive economic growth, create jobs, and enhance the state’s technological capabilities.
