Gujarat Fluorochemicals Explained
Gujarat Fluorochemicals Limited (GFL) is an industrial refrigerant manufacturer in India. It is one of the largest producers (by volume) of chloromethane, refrigerants and polytetrafluoroethylene (PTFE).[3]
History
The company was incorporated in 1987, is a subsidiary of Inox Leasing and Finance Limited. GFL has two manufacturing facilities in Gujarat, a refrigerant plant at Ranjitnagar near Ghoghmba town Panchmahal, and a PTFE facility at Dahej.[4] [5] It has two subsidiaries - Gujarat Fluorochemicals Americas LLC and Gujarat Fluorochemicals GmbH to cater Americana and European operations respectively.
Controversies
In 2000s, the company was embroiled in "shoddy practice" of destroying HFC 23, a byproduct released in the coolant-making process at its plant at Nathkuva village in Halol. In return, company was earning "lucrative" carbon credit.[6] As per the 2010 Hindustan Times reporting, the company earned nearly half of its revenue for FY 2009-2010 from the sale of carbon credits.[7]
Accidents
- On December 16, 2021, 7 people died and 23 others were injured in a blast that took place at GFL's refrigerant manufacturing plant in Ranjitnagar village, Ghoghamba taluka of Panchmahal district.[8] [9] [10]
Notes and References
- Web site: Archived copy . 21 September 2016 . 18 February 2017 . https://web.archive.org/web/20170218124751/http://www.sebi.gov.in/buyback/gujaratfluorochem.pdf . dead .
- News: Gujarat Fluorochemicals Ltd Q4FY23 consolidated PAT up at Rs. 331.88 crores . 8 July 2023 . EquityBulls . 5 May 2023.
- Web site: Deepak Asher, Director & Group Head (Corporate Finance), Gujarat Fluorochemicals. indiainfoline.com. 2016-09-21.
- Web site: About Gujarat Fluorochemicals Limited.
- Web site: Gujarat fluorochemicals ltd Stock/Share Price, Live BSE/NSE Gujarat fluorochemicals ltd Price, Gujarat fluorochemicals ltd Financial News at www.Indiainfoline.com.
- News: Rosenthal. Elisabeth. 2012-08-08. In a Factory's Shadow, Fears About Health. en-US. The New York Times. 2021-12-18. 0362-4331.
- Web site: 2010-09-01. Carbon credit scam slur on Indian firms. 2021-12-18. Hindustan Times. en.
- Web site: ANI. Dec 18, 2021. Death toll rises to 7 in chemical factory blast in Gujarat's Panchmahal district Ahmedabad News - Times of India. 2021-12-18. The Times of India. en.
- News: ANI. 2021-12-18. 7 dead, 23 injured in a chemical factory blast in Gujarat's Panchmahal. Business Standard India. 2021-12-18.
- Web site: 2021-12-17. Gujarat: Explosion at chemical factory leaves 5 dead, 15 injured. 2021-12-18. The Indian Express. en.
