The Board of IFGL Refractories at its meeting held on 10 October 2024 has resolved that the Company do enter a Joint Venture Agreement in agreed form with Marvels International Group Co of Seychelles and Marvel Refractories (Anshan) Company of P R China to set up a Joint Venture Company in India with limited liability for setting up green field facility at capital outlay of about Rs 300 crore for manufacture in India of below mentioned products used in Cement, Glass, Non-Ferrous and Gasification Industries.
a) Basic Fired Magnesite Spinel Bricks
b) Basic Fired Magnesite Bricks
c) Fired Magnesia Chrome Bricks