New Delhi: Air Products, a world leader in industrial gases, on Wednesday said it has signed a long term supply agreement with the state-owned Indian Oil Corporation Limited (IOCL). "Air Products will build, own, and operate (BOO) a new industrial gases complex supplying hydrogen, nitrogen and steam to Indian Oil's Barauni Refinery in Bihar," the firm said in a statement.

Air Products, however, did not reveal the financial details of the contract.

The new industrial gas complex will aid Indian Oil Barauni refinery capacity expansion from six to nine million tonnes per annum producing Euro-VI or BS-VI compliant petrol and diesel.

"The industrial gas complex will include the latest generation multi-feed hydrogen production facility supplying 70,000 normal cubic metres per hour (Nm3/hr) of hydrogen as well as steam, and a high-efficiency air separation unit producing 4,000 Nm3/hr of nitrogen," it said.

Air Products expects the new industrial gas complex for IOCL to come onstream in 2024.

Once completed, the Barauni project will be Air Products' second BOO project in India, after the Kochi industrial gas complex at BPCL's Kochi refinery in Kerala.

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