Chilean AGA To Launch $90 Mln Investment Plan
Chilean industrial and medicine purposes gas producer AGA, owned by German diversified holding group AGA plans to invest $90 mln (76.4 mln euro) in Chile in 2006, the regional director of AGA for Chile, Argentina, Peru and Uruguay, Gaston Lewin, said on November 20, 2005.
AGA will invest $70 mln (59.42 mln euro) in a hydrogen producing plant, to be built mainly with the aim to meet the hydrogen demand of Chilean state owned Empresa Nacional de Petroleo (ENAP). The remaining $20 mln (17 mln euro) will be invested in expansion of the oxygen output of AGA.
The hydrogen plant of AGA will boost the company's hydrogen output to 45,000 cu m per hour (m3/h) from current 125 m3/h.
ENAP will use the hydrogen produced by AGA to diminish the sulphur content in diesel fuel, in accordance with the ordinance of the Chilean Government.
Industrial gases turnover in Chile stands at up to $130 mln (110.3 mln euro) per year, of which share AGA holds a 38 pct stake, ranking second on the local market, Lewin added. In 2006, the company targets to become the largest industrial gases distributor in Chile.