IFGL Refractories Ltd to Establish Joint Venture with Seychelles and China Companies for Rs 300 Crores Investment

In a recent meeting on 10th October 2024, the Board of Directors of IFGL Refractories Ltd resolved to enter into a Joint Venture Agreement with Marvels International Group Co Ltd of Seychelles and Marvel Refractories (Anshan) Company Limited of P R China. The joint venture aims to set up a green field facility in India for manufacturing Basic Fired Magnesite Spinel Bricks, Basic Fired Magnesite Bricks, and Fired Magnesia Chrome Bricks, which are used in Cement, Glass, Non-Ferrous and Gasification Industries. The estimated capital outlay for this project is approximately Rs 300 crores. The company will provide further updates as per SEBI LODR, 2015 and the announcement will be available on the company's website: https://ifglgroup.com.