NEW DELHI, July 29: Air Liquide of France, among the largest industrial gas companies, and Sakata Inx Corporation of Japan have substantially increased their equity stake in their local joint ventures. Air Liquide has acquired an additional 17 per cent stake in Air Liquide North India Ltd, taking its total stake in the company to 93 per cent. Local business associates will hold a 7 per cent stake in Air Liquide North India. Sakata Inx has increased its equity holding in Montari Sakata Inx to 75 per cent from 30 per cent.

The union government has approved the increase in equity stakes. Air Liquiude North India, which till recently was known as Tech Gas Equipment, is upgrading its plant at Alwar in Rajasthan. The unit was acquired by the company from Indian promoters. "We have brought in technology and new equipment. The manpower is also being trained to be brought on a par with international standards," a company official said.

The equity base is being expanded to modernise and expand the plant, sources said. Company officials were, however, tightlipped over the total investment being made in the Alwar plant. In Montari Sakata Inx, the paid-up equity capital of the company has been increased to Rs 8 crore from Rs 7 crore, which has also resulted in a total change in the equity-holding pattern.

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