IMFA acquires Tata Steel’s Ferro Chrome Plant at Kalinganagar for Rs 610 Crore

Indian Metals & Ferro Alloys Ltd (IMFA) on Tuesday announced the acquisition of Tata Steel’s Ferro Chrome Plant at Kalinganagar in a major step toward expanding its production capacity and strengthening its leadership in the ferro chrome industry.

The company has signed an Asset Transfer Agreement valued at Rs 610 crore, which will be funded entirely from internal accruals. The transaction is expected to be completed within three months.

The acquisition includes 66 MVA (100,000 tonnes per annum) of existing capacity and 33 MVA (50,000 tonnes per annum) currently under construction. The plant’s strategic location near IMFA’s upcoming greenfield project and captive chrome ore mines is expected to result in significant cost savings and operational synergies.

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With this acquisition, IMFA will become India’s largest ferrochrome producer and the sixth largest globally, boasting a total installed capacity exceeding 0.5 million tonnes per annum.

“This acquisition marks a major milestone in our growth journey. It aligns perfectly with our vision to strengthen our presence in the global ferro chrome market while maintaining a strong focus on sustainability and value creation,” the company said in a statement.

IMFA reaffirmed its commitment to driving sustainable growth, operational efficiency, and long-term stakeholder value as it embarks on the next phase of expansion.