Industrial-gas supplier Praxair Inc. plans to invest 305 million Argentine pesos ($66 million) in Argentina to build two new plants to produce oxygen, nitrogen and argon, the country’s industry ministry said in a statement Thursday.

Praxair will invest ARS215 million to build a new plant in the industrial zone of Zarate-Campana and an additional ARS90 million for a second plant in the town of Bragado, the ministry said.

The plant in Bragado, in the province of Buenos Aires, will meet demand of the Aceros Bragado company which produces wire rod, mesh and bars.

Praxair South America president Domingos Bulus met with Argentine President Cristina Kirchner Thursday to present the company’s investment plan, according to the statement.

The company already has nine manufacturing plants in Argentina.

Praxair recently reported a 0.9% increase in second-quarter profits due to rising North American sales and margins.

Praxair had seen solid sales growth in recent quarters but watched its South American market slow along with other regions on weaker currencies and macro-economic conditions.