IFC’s $50 Million Bet on Gujarat Fluorochemicals to Build India’s First Integrated Battery Materials Plant
New Delhi / Gujarat, December 7, 2025 — The International Finance Corporation, the private-sector arm of the World Bank Group, has committed around US$50 million to GFCL EV Products Ltd, a subsidiary of Gujarat Fluorochemicals Ltd of the INOXGFL Group, to build India’s first fully integrated battery materials manufacturing facility at Jolva, near Bharuch in Gujarat.ETAuto.com+1