Indian Metals & Ferro Alloys Ltd (IMFA), one of India’s leading fully integrated producers of ferro alloys, has signed definitive agreements to acquire Tata Steel Limited’s (TSL) ferro chrome plant in Kalinganagar, Odisha.
The acquisition adds 99 MVA of furnace capacity—66 MVA existing and 33 MVA under construction—for a base purchase consideration of INR 610 crores, bringing total production capacity to over 0.5 million tonnes. The facility, spread across 115 acres, currently houses four furnaces capable of producing 100,000 tpa, which will increase to 150,000 tpa once a fifth furnace is commissioned.
Strategically located near IMFA’s captive chrome ore mines, the plant is expected to deliver significant cost savings and operational synergies, particularly in conjunction with the company’s upcoming greenfield expansion. The transaction is anticipated to close within three months.