Indian Metals & Ferro Alloys Ltd (IMFA) has completed the acquisition of Tata Steel’s ferro‑chrome plant in Kalinganagar, Odisha for ₹707.26 crore, including GST and working capital adjustments.
The plant spans 115 acres and currently has four furnaces producing 100,000 tonnes annually, with a fifth under construction expected to increase capacity to 150,000 tonnes per year within a year.
Funded entirely from IMFA’s internal accruals, the deal strengthens the company’s position as a leading ferro‑chrome producer in India, expanding production and improving operational efficiency in the ferro‑alloys sector.