IMFA Expands Footprint with Strategic Ferrochrome Plant Acquisition

Indian Metals & Ferro Alloys (IMFA) has acquired a ferrochrome plant in Odisha from Tata Steel for Rs 707.26 crore. The plant, located in Kalinganagar, consists of four furnaces with a capacity of 100,000 tpa, which will increase to 150,000 tpa upon commissioning of a fifth furnace.

Indian Metals & Ferro Alloys (IMFA) has announced a significant acquisition in the industrial sector, purchasing a ferrochrome plant in Odisha from Tata Steel for a transaction value of Rs 707.26 crore.

The plant, which spans 115 acres in Kalinganagar, currently houses four furnaces that produce 100,000 tonnes per annum (tpa) of ferrochrome. IMFA plans to enhance this capacity to 150,000 tpa with the commissioning of a partially built fifth furnace within a year.

The Bhubaneswar-based IMFA confirmed that the acquisition, which includes a base consideration of Rs 610 crore, GST, and net working capital, was funded entirely through internal accruals, strengthening its position as India's leading producer of value-added ferrochrome.

(With inputs from agencies.)