Gujarat Fluorochemicals’ subsidiary, GFCL EV Products Limited (India), part of the diversified INOXGFL Group, is set to establish a state-of-the-art greenfield facility in Salalah Free Zone, Oman, to manufacture advanced battery materials for electric vehicles (EVs) and energy storage applications, the company reported in a regulatory filing.
The project, being undertaken through GFCL EV (SFZ) LLC, represents an initial investment of approximately USD 216 million. The company has formalized the venture by signing an investment agreement with the Sultanate of Oman through Invest Oman, the country’s Ministry of Commerce, Industry & Investment Promotion, along with a land lease agreement with Salalah Free Zone Company LLC.
GFCL EV Products Limited operates under the INOXGFL Group umbrella, which has a market capitalization of USD 12 billion and business interests spanning fluoropolymers, refrigerants, chemicals, and renewable energy, including wind and solar power. The new facility in Oman is aimed at meeting the growing demand for battery materials in next-generation energy and mobility sectors.
