IMFA's Milestone Acquisition: Transforming the Ferro-Chrome Landscape

Indian Metals and Ferro Alloys Ltd (IMFA) has completed acquiring Tata Steel's ferro-chrome plant in Kalinganagar, Odisha, for Rs 707.26 crore. Funded through internal reserves, the deal boosts production capacity and positions IMFA as India's largest ferro-chrome producer, promising enhanced operational synergies and sustainable growth.

Indian Metals and Ferro Alloys Ltd (IMFA) has successfully completed the acquisition of Tata Steel Limited's ferro-chrome facility in Kalinganagar, Jajpur district. This strategic move, valued at Rs 707.26 crore, represents a crucial development in the company's expansion strategy.

The acquisition was entirely financed through internal accruals, showcasing IMFA's robust financial health. The acquired plant, spread over 115 acres, includes four furnaces with a production capacity of 100,000 tonnes annually, expected to rise to 150,000 tonnes following the commissioning of a fifth furnace within a year.

Subhrakant Panda, IMFA's managing director, stated that this transformative deal solidifies their position as India's leading ferro-chrome producer. He emphasized their commitment to creating value and achieving operational synergies, underscoring their dedication to sustainable and ambitious industry leadership.

(With inputs from agencies.)