By Li Panpan

(JW Insights) Apr 26 -- World-leading industrial gas supplier Linde has signed agreements with Foxconn and Zhengzhou Airport Economy Zone to set up a wholly-owned subsidiary with an investment of $25 million to provide gas products for Foxconn and other companies, reported local finance media outlet Dahe Cube.

Linde will rent space from Foxconn in the Zone in Zhengzhou, central China’s Henan Province. The project will be divided into two phases according to their agreements. In the first phase, Linde plans to invest $10 million in building nitrogen production equipment and supporting facilities to meet the needs of Foxconn of replacing existing cryogenic and PSA nitrogen production equipment through pipelines. It will start construction before June 30 this year, and the construction period is about 15 months.

In the second phase, Linde plans to invest $15 million to build pipelines to supply nitrogen to enterprises in the Zhengzhou Airport Economy Zone. The construction period is about 18 months.

Linde is the world's largest industrial gas company by market share and revenue. It has operated in China for 36 years.