Air Products and Takamul Investment Announce the Formation of a New Joint Venture in Oman

  Air Products and Takamul Investment Announce the Formation of a New Joint
                               Venture in Oman

The joint venture will supply industrial gases to the new Special Economic
Zone at Duqm (SEZAD)

PR Newswire

MUSCAT, Oman, Dec. 10, 2013

MUSCAT, Oman, Dec. 10, 2013 /PRNewswire/ --Air Products (NYSE:APD), the
leading global hydrogen provider, and Takamul Investment Company, a subsidiary
of the Oman Oil Company, today announced they have signed a joint venture
agreement to establish an integrated industrial gases venture, which will
become a one-stop provider for a full range of industrial gases such as
hydrogen, nitrogen and oxygen for all customers in the Special Economic Zone
at Duqm (SEZAD), Oman.

The joint venture will support the economic development of the Special
Economic Zone at Duqm and will enhance its competitiveness to attract further
industrial investments. It will also aim to deliver the highest operational
excellence by leveraging Air Products' world-class capabilities in large
industrial gas plant design, pipeline infrastructure development and
operational know-how, as well as Takamul's strong multi-utility infrastructure
position in Duqm, via its Centralised Utility Company (CUC).

Commenting on the formation of the new joint venture, Thomas Wendahl, regional
vice president of Air Products - Middle East, said, "This new joint venture
will truly be of mutual benefit. It will help to strengthen Air Products'
presence in Oman, enabling the growth of our business in the emerging
industrial area of Duqm, while complementing Takamul's investment portfolio in
Oman with the addition of a commercial stake in industrial gases."

Hilal Al Kharusi, Chairman of Takamul, added,"Following a thorough and
extensive evaluation process to select Air Products as one of our strategic
partners, I am delighted to be announcing our agreement today. There is a lot
we can learn and benefit from partnering with international companies such as
Air Products as we drive to bring reliable, high quality, centralized
utilities to the SEZAD. With Air Products' proven track record in Oman and the
Middle East, we will be working with them to provide innovative solutions for
large scale industrial gases that will enable our customers to become more
productive, energy efficient and sustainable."

Strategically located along the Gulf of Oman with a long coastline running
along the Arabian Sea, Duqm has been targeted for development as a major
maritime gateway for trade in crude oil from the Gulf, and as an important
industrial and commercial hub. With a land area of 1,777 square kilometres and
an 80-kilometre coastline, the Duqm SEZ will rank as the largest SEZ in the
Middle East and North Africa region and one of the largest in the world. It
will be administered, regulated and developed by the Duqm Special Economic
Zone Authority, a financially and administratively independent government
entity. Encompassing a sea port, city centre, industrial zone, tourism zone,
logistics centre and an education and training zone, all supported by a
multi-modal transport system connecting the SEZ to nearby regions, the
development of the SEZ is expected to take place in three phases from now
until 2025.

Notes to editors:

Air Products in the Middle East

Air Products has had a presence in the Middle East for more than 50 years,
with offices in Oman, UAE, Saudi Arabia, Qatar and Bahrain. A provider of
liquefied natural gas (LNG) cryogenic technology to Oman and the rest of the
Gulf Co-operation Council (GCC), Air Products has built, owned, and operated
several air separation units and hydrogen production plants throughout the
Middle East region. It operates a helium and cylinder gas filling and
distribution facility, as well as a specialty gases center in the Jebel Ali
Free Zone, UAE.

About the companies

About Takamul Investment Company

Takamul is a subsidiary company of Oman Oil Company (OOC), a commercial
venture of the Government of the Sultanate of Oman. The company was formed in
2008 to develop, promote and invest in green field industrial projects as well
as in existing industrial companies to support Oman's thriving industrial
sector. The company's key objective is to act as a catalyst in developing a
sustainable downstream value chain to extend Oman's increasingly promising
chemicals, metals, minerals and industrial service sectors. Takamul is
establishing the Centralised Utilities Company (CUC), which will have
exclusive rights to provide a range of utilities to the industrial area of the
Special Economic Zone at Duqm (SEZAD), Oman. This will include electricity,
steam, industrial gases, and water. The CUC is one of Takamul's first
investments in industrial services. For more information visit

About Air Products

Air Products (NYSE:APD) provides atmospheric, process and specialty gases;
performance materials; equipment; and technology. For over 70 years, the
company has enabled customers to become more productive, energy efficient and
sustainable. It is recognized as one of the world's most innovative companies
by both Thomson Reuters and Forbes magazine. With more than 20,000 employees
in over 50 countries, Air Products supply effective solutions to the energy,
environment and emerging markets. These include semiconductor materials,
refinery hydrogen, coal gasification, natural gas liquefaction, and advanced
coatings and adhesives. In fiscal 2013, Air Products had sales of $10.2
billion. For more information, visit 

NOTE: This release may contain forward-looking statements within the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are based on management's reasonable
expectations and assumptions as of the date of this release regarding
important risk factors. Actual performance and financial results may differ
materially from projections and estimates expressed in the forward-looking
statements because of many factors not anticipated by management, including
risk factors described in the Company's Form 10K for its fiscal year ended
September 30, 2013.

SOURCE Air Products

Contact: Media Inquiries: Air Products, Europe, Middle East, Dorota
Grzegorczyk,, +48 (22) 440 32 12, or United States,
Arthur George,, +1 (610) 481 1340, Takamul Investment
Company, Muscat, Oman, Jalal Al Lawati, Corp Comms,, +968 9943 2932; Investor Inquiries: Air Products,
Simon Moore,, +1 (610) 481 7461
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