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Inox Air Products Ltd, India’s largest manufacturer of industrial and medical gases, plans to tap the equity market to finance an expansion into green hydrogen, a top executive said.
“Currently, there is no need… However, when we enter the hydrogen-producing business, that would require us to raise money, since the segment is capital-intensive. It could require an investment of up to ₹10,000 crore and we would surely look at tapping the equity market to raise money,” Siddharth Jain, managing director, Inox Air said in an interview.
India has announced a National Green Hydrogen Mission to create 5 million tonnes of capacity by 2030, as it aims to become a world leader in green hydrogen.
Inox Air plans to invest ₹3,000 crore across its nine sites in the next two to three years, most of it in the first two years.
Source: livemint
