Industrial gas provider Praxair (China) Investment Company has set up a joint venture in Guangzhou with the China Petroleum and Chemical Corporation; and this is the first alliance between the two companies.
The joint venture — Praxair-GPC Industrial Gases Company Ltd. — will produce, sell and distribute industrial gases such as oxygen, nitrogen, and argon for a wide range of industrial applications. It will also meet the demands of Sinopec Guangzhou Company for a quality, reliable nitrogen supply. The JV is expected to start operations in the fourth quarter of 2009.
According to David Chow, the president of Praxair China, this first alliance with Sinopec is a major milestone for the company, and is demonstration of Praxair's commitment to continue to investment in the Chinese marketplace.