• GFCL EV Products Ltd, a subsidiary of Gujarat Fluorochemicals, is establishing a manufacturing facility in Jolva, Gujarat. The International Finance Corporation (IFC) plans to invest Rs 430 crore ($47 million) in this facility.
• The total investment for the Jolva facility is projected to be around $709 million (Rs 6,440 crore) and will be implemented in phases until FY29. Subsequent funding will come from equity raises and internal accruals.
• GFCL EV produces battery materials like electrolytes, salts, binders, and cathode active material for lithium-ion batteries. A key raw material, anhydrous hydrogen fluoride (AHF), is currently transported by road.
• The IFC investment will enable GFCL EV to manufacture AHF on-site at its Jolva plant by the end of 2026, eliminating risky road transportation. The company also has plans for a future facility in Oman.

Prithvi Durai

Battery-material manufacturer GFCL EV Products Ltd, a subsidiary of Gujarat Fluorochemicals (GFL), has roped in an .........

Gujarat Fluoro’s EV chemicals unit gets offshore investor for $700-mn expansion plan

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Battery-material manufacturer GFCL EV Products Ltd, a subsidiary of Gujarat Fluorochemicals (GFL), has roped in an offshore investor for setting up...

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Gujarat Fluoro’s EV chemicals unit gets offshore investor for $700-mn expansion plan

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