M&A M&A
Ferro alloys maker IMFA to acquire Tata Steel's Odisha ferrochrome plant for Rs.610-Cr
Source Economic Times (opens in a new tab)BSE Announcement (opens in a new tab)
Publicly listed, Bhubaneswar-based ferro alloys producer Indian Metals & Ferro Alloys Ltd (IMFA) is to acquire Tata Steel's ferro chrome plant located in Kalinganagar, Odisha, for INR 610 crore financed through internal accruals.The acquired plant, spanning 115 acres, possesses a 99 MVA furnace capacity, comprising 66 MVA operational and 33 MVA under construction. It currently features four furnaces with a production capacity of 100,000 tonnes per annum. The strategic location of the plant, close to IMFA's captive chrome ore mines, is expected to yield cost savings and operational synergies.