GOI Closes Application for IFGL Refractories' Green Field Project in Gujarat; Company to Explore Alternative Locations
IFGL Refractories Limited has announced an update regarding its planned green field manufacturing project set up through a joint venture with Marvels Group, revealing that the Government of India (GOI) has closed the application pertaining to the initial site location.The company had initiated proceedings for the project in Bhachau, Gujarat. On June 5, 2026, the appropriate Authority of GOI communicated to IFGL Refractories Limited that its application for the project’s location has been closed. The company has been advised that it may submit a fresh application with an alternative location when ready for consideration by the authorities.
The green field project involves setting up manufacturing facilities for Basic Fired Magnesite Spinel Bricks, Basic Fired Magnesite Bricks, and Fired Magnesia Chrome Bricks. These products are designated for use across Cement, Glass, Non-Ferrous, and Gasification Industries. The initiative is being undertaken through a Joint Venture Company with Marvels International Group Co Ltd of Seychelles and Marvel Refractories (Anshan) Company Ltd of P R China, collectively known as Marvels Group.
This joint venture follows an agreement entered into on October 14, 2024. IFGL Refractories Limited previously provided notices detailing the status of this JV in October 2024, December 2024, and April 2025, leading up to the current development.
IFGLEXPOR Stock Price Movement
As of 12:04 PM, IFGL Refractories Limited is gaining traction, trading up 0.69% at ₹194.91. The stock has seen 12,897 shares traded during the live market session so far.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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