(EnergyAsia, May 15, Friday) --- US-based Praxair Inc said its wholly-owned subsidiary, Praxair (China) Investment Co Ltd, has set up a joint venture in the southern Chinese province of Guangzhou with China Petroleum & Chemical Corporation (Sinopec).

The new company, Praxair-GPC Industrial Gases Co Ltd, will produce, sell and distribute industrial gases such as oxygen, nitrogen and argon for a wide range of industrial applications. It will also meet the demands of Sinopec Guangzhou Company for the quality, reliable supply of nitrogen. The venture is expected to start operations in the fourth quarter of 2009.

“Headquartered in Shanghai, Praxair (China) Investment Co Ltd has 18 wholly owned companies, 10 joint ventures and over 1,200 employees in the country.

This first alliance with Sinopec is a major milestone for Praxair China,” said David Chow, President of Praxair China. “It is also a demonstration of our commitment to continued investment in the Chinese marketplace.”

NYSE-listed Praxair is the largest industrial gases company in North and South America, and one of the largest worldwide, with 2008 sales of $10.8 billion. The company produces, sells and distributes atmospheric, process and specialty gases, and high-performance surface coatings.