On October 14, 2024, Marvels Refractories Limited (MRL) and IFGL officially signed a joint venture agreement at MRL’s production facility in Taian County, Anshan City, Liaoning Province, China, marking a significant milestone in their international cooperation.

The signing ceremony was attended by Jim McIntosh, Managing Director of IFGL Group; Arasu Shanmugam, CEO of IFGL India; Manoj Rakhecha, CEO of Monocon; Russel Kingsley, General Manager of Monocon Tianjin; Chaitannya Kanoria, Business Manager; along with Yichun Lu, Chairman of MRL; Yanxu Liu, General Manager of MRL; Surendra Mishra, Vice President of Global Sales; and other members of MRL’s leadership team.

According to the agreement, MRL and IFGL will jointly establish a manufacturing company in India, with a designed annual capacity of 25,000 tons. The new facility will supply refractory products to the cement, non-ferrous, glass, and gasification-based chemical industries. The land for the project has already been acquired, and construction is scheduled to begin soon. The plant is expected to start operations in March 2026.

Following the ceremony, the MRL team guided the IFGL delegation on a tour of MRL’s smart production lines and quality management systems. The day concluded with a celebratory luncheon, strengthening the trust and rapport between both sides.

This joint venture represents a strategic move in MRL’s global expansion and a strong partnership between leading refractory enterprises in China and India. Together, MRL and IFGL will deepen cooperation in manufacturing, brand building, technology export, and market development — advancing innovation and internationalization across the refractory industry.