Benefits for the mechanical industry with a new investment contract
The Sectorial Council for Production, chaired by the Coordinating Minister of Production, Employment and Competitivity, Richard Espinosa, approved the past September 20 the signing of the ninth Investment Contract that is signed under the Production Code.
The contract will be subscribed in posterior weeks with the society LINDE ECUADOR S.A., which will invest nearly 37 million dolars for the construction and commissioning of a plant and its components to produce air gases: oxygen, nitrogen and argon.
The plant will be located in the city of Guayaquil, within the premises of National Steelworks of Ecuador (Acerías Nacionales del Ecuador - ANDEC). Thanks to the joint work between both companies, ANDEC can duplicate its annual production capacity.
This Project will be developed in a sector of importing substitutions and export promotions with the name “Fabrication of basic chemical substances” which will amplify the national productive capacity and will contribute to diminish the local production deficit of said products.
The imports of liquid argon and industrial oxygen surpassed 4 million dollars during 2012, and so far in 2013 are going to more than 1.6 million dollars. It is estimated that once when LINDE start operations, the Industrial Oxygen and Argon will cease to be imported, and in the midterm the import of Medical Oxygen will be stopped also.
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