SIAD Group and SOL Group have launched OXY Technical Gases, a joint venture intended to increase the availability of nitrogen, oxygen, and argon in Eastern European markets, particularly in Croatia and its neighboring countries. SIAD Group holds 60% ownership of OXY Technical Gases and SOL Group holds 40% ownership in the joint venture.
OXY Technical Gases is building an air separation unit (ASU) in Velika Gorica, Croatia, near Zagreb. The US$56.1 million project will contribute to increasing the quality and stability of supply of high-purity gases, including liquid oxygen, nitrogen, and argon. These gases, produced at cryogenic temperatures, will be supplied to SIAD and SOL’s customers such as hospitals, industrial factories, and other consumers across Croatia and neighboring countries.
The ASU is being built by SIAD Macchine Impianti SpA, a SIAD Group company that specializes in the engineering and construction of technical gas production plants, industrial compressors, and natural gas liquefaction plants.