Calcutta: Linde, the industrial gas major, is optimistic of securing regulatory approvals to complete the merger with Praxair by the second half of 2018.

In June last year, Linde AG had signed a merger pact with Praxair. The agreement provides for a combination of businesses of the Linde group and the Praxair group (including Indian operations) under a publicly listed holding company called Linde plc, which has been incorporated in Ireland.

As of May last year, the combined market value of the merged company was over $70 billion.

"The merger process is in the hands of the regulators. We have filed with 24 jurisdictions across the world. We already have approval from more than 10 jurisdictions," Linde India chairman Sanjiv Lamba told shareholders at the company's annual general meeting on Monday.

The Competition Commission of India has sought certain clarifications on the merger.

"The merger in India is subject to the CCI requirements and they have issued queries and we are in the process of responding to them. At the moment, both sides are competitors," Lamba said.

According to Lamba, the ongoing insolvency resolution process for several steel firms may not bode well for the operations of Linde as steel companies may potentially defer expansion projects.