Prime Highlights:
- GFCL EV Products Limited will invest $216 million to build a new facility in Oman’s Salalah Free Zone, producing advanced battery materials for electric vehicles and energy storage systems.
- The project expands the company’s global manufacturing footprint, strengthens its presence in the Middle East, and supports growing demand for high-performance battery components.
Key Facts:
- The plant will be developed through GFCL EV (SFZ) LLC, under agreements with Invest Oman and Salalah Free Zone Company LLC, targeting EV and large-scale energy storage sectors.
- The INOXGFL Group, valued at around $12 billion, operates across fluoropolymers, specialty chemicals, refrigerants, and renewable energy, and is investing in its energy transition businesses.
Background:
GFCL EV Products Limited, part of the INOXGFL Group, will invest about $216 million to build a new plant in Oman. The plant will make advanced battery materials for electric vehicles and energy storage systems.
The project will be developed through its overseas unit, GFCL EV (SFZ) LLC, at the Salalah Free Zone. The company has signed an investment agreement with Invest Oman, under the Ministry of Commerce, Industry and Investment Promotion, along with a land lease agreement with Salalah Free Zone Company LLC.
The facility will provide battery materials to fast-growing sectors like electric vehicles and large-scale energy storage. The move also marks a strategic expansion of the group’s global manufacturing base and strengthens its presence in the Middle East.
GFCL EV Products focuses on advanced materials used in lithium-ion batteries and related technologies. The company said the Oman plant will support growing global requirements for high-performance battery components and help diversify supply chains for clean energy industries.
The INOXGFL Group, which has a market value of about $12 billion, operates across fluoropolymers, refrigerants, specialty chemicals and renewable energy, including wind and solar. The company is investing in expanding its energy transition businesses.
Oman is promoting the Salalah Free Zone as a hub for advanced manufacturing and export industries. The agreement will attract technology investments, create jobs, and grow industries in the region.
Indian companies and Gulf nations are working more closely together on clean energy and advanced materials to tap into the fast-growing electric vehicle and energy storage markets.
