[India] Ifc To Part Fund Hng Float Glass Plant

IFC, a member of the World Bank Group, will help HNG Float Glass set up a state-of-the-art float site in Halol, in the Indian state of Gujarat. The plant will produce 600/tpd of energy-efficient float glass, helping to meet demand from the construction and automotive sectors, while creating new jobs and developing local supply chains. IFC will invest up to US$ 25M in loan and equity in HNG Float Glass, a company set up by C K Somany Group. The project is also supproted by DEG, with an investment of US$12.4M.