India–US Trade Tensions Rise Over Steel and Auto Tariffs NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
Indian Metals & Ferro Alloys (IMFA) said its growth plan will accelerate after agreeing to acquire Tata Steel’s Kalinganagar ferro-chrome plant for ₹610 crore, with closing targeted in about three months and funding via internal accruals. Management said the deal effectively advances a second-phase addition of ~100,000 TPA that would otherwise have taken several years.
IMFA is already executing a greenfield ferro-chrome unit at Kalinganagar adding ~100,000 TPA, with phased commissioning from June 2026. Combining the greenfield project with the acquired capacity, the company expects installed capacity of ~5.44 lakh TPA by FY28, supporting ~4.75 lakh TPA of production over the period.
Planned investments include ₹900 crore for the greenfield facility and about ₹1,000 crore over five years to expand mining capacities. IMFA is also diversifying with a ₹150 crore, 120 KL/day ethanol plant. Revenues were ~₹2,600 crore in FY25, with a targeted ramp to ~₹5,000 crore as volumes rise and ferro-chrome prices recover toward ₹1.15–1.18 lakh per tonne.
The company said the acquisition strengthens its integrated model—linking ore, power and smelting—while improving delivery reliability to stainless and alloy steel customers in India and overseas. Further updates on timelines and commissioning milestones are expected post-closure.
Also Read : Siemens Mobility Expands Use of Low-Carbon Steel in Rail Manufacturing Germany Passes Carbon Storage Law to Secure Climate Neutrality
The recent review of coal production from captive and commercial mines shows promising growth in the...
Press Releases 29-Feb-2024
Abhay Ispat expands with New Steel Service Stations in Maharashtra and Gujarat Abhay Ispat has anno...
Large Corporate 28-Jul-2025
Vibhor Steel Tubes Ltd has secured an order worth ₹4.02 crore for the supply of metal crash barriers...
Construction 14-Nov-2025
The coal ministry unveiled the PM Gati Shakti National Master Plan which provides a database of past...
Press Releases 14-Mar-2024
✅ Indian steel firms analyzing US tariff impact on exports✅ Government mulls reciprocal duties to...
Business 07-Apr-2025
The United Steelworkers (USW) signed a non-disclosure agreement with Nippon Steel, the union said on...
US 27-Feb-2024