[India] Ifc To Invest Us$25M In Hng Gujurat Plant

World Bank Group member IFC is to help HNG Float Glass set up a state-of-the-art plant in the Indian state of Gujurat. The Halol-based plant will produce 600/tpd energy-efficient float glass, serving demand from the construction and automotive sectors while creating new jobs locally. IFC will reportedly invest up to US$25M in loan and equity in the project. "Our investment will provide long-term funding and equity to HNG Float Glass and help it enter a new market segment in India that has tremendous growth potential," said Dimitris Tsitsiragos, IFC Director for Global Manufacturing & Services.