Indian speciality chemicals maker GFCL EV Products Limited has announced major progress on a $216 million advanced battery materials project in Oman through its newly formed wholly owned subsidiary, GFCL EV (SFZ) LLC. The company plans to set up a greenfield facility in the Salalah Free Zone in Dhofar Governorate to serve electric vehicle (EV) and energy storage markets in the region.
New Subsidiary to Boost Battery Materials Manufacturing
GFCL EV (SFZ) LLC was officially incorporated in Oman as part of the initiative to establish the Sultanate’s first advanced battery materials production hub. The announcement was made through a regulatory filing by the parent company, Gujarat Fluorochemicals Limited, to Indian stock exchanges. The total investment agreed for the project is estimated at approximately $216 million (RO 35 million).
Project plans were first revealed last September at an event backed by the Public Authority for Special Economic Zones and Free Zones (OPAZ), Salalah Free Zone, and Invest Oman. GFCL EV (SFZ) LLC will focus on manufacturing chemicals used in lithium-ion battery cells, which are essential components for EVs and stationary battery energy storage systems (BESS).
Saudi and Gulf Expansion Complements Indian Facility
In India, GFCL EV Products Limited is also developing a fully integrated EV battery materials facility at Jolva near Bharuch in Gujarat. This domestic plant will produce core lithium-ion battery components including electrolyte salts like LiPF₆, electrolyte formulations, LFP (lithium iron phosphate) cathode materials, and PVDF/PTFE binders all crucial for next-generation batteries.
Last December, the International Finance Corporation (IFC) part of the World Bank Group committed $50 million to support the development and scaling of the integrated Gujarat facility, signalling strong investor confidence in GFCL EV’s strategy.
Strategic Importance and Market Positioning
The Oman project is a strategic part of GFCL EV’s effort to build multiple nodes in the global battery materials supply chain, strengthening geographic diversification and proximity to key markets. A manufacturing presence in the Middle East allows GFCL EV to capitalise on regional trade routes and industrial clusters, while the India base supports domestic production aligned with clean energy growth and reduced import reliance.
GFCL EV is part of the larger INOXGFL Group, which is a diverse Indian company with interests in specialty chemicals, fluoropolymers, advanced materials, and renewable energy. The group is worth about $12 billion on the market.
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