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) has signed definitive agreements to acquire Tata Steel’s ferro-chrome plant at Kalinganagar, Odisha for a base consideration of ₹610 crore.
The transaction transfers a 99 MVA furnace complex—66 MVA operational and 33 MVA under construction—and will take IMFA’s installed ferro-chrome capacity beyond 0.5 million tonnes per annum. The company said the asset will strengthen supply to domestic stainless/alloy makers and export customers.
Completion is subject to customary approvals and closing conditions. Post-integration, IMFA plans to ramp the under-construction furnace, optimise throughput, and leverage its raw-material linkages and captive power for cost efficiency.
The acquisition underscores ongoing consolidation in India’s ferro-alloys space as producers seek scale, reliable feedstock, and tighter integration with end-user industries. Further timelines and commissioning milestones are expected after closure.
Also Read : Thyssenkrupp Braces for Heavy 2026 Loss on Steel Restructuring Lower global prices weigh on Indian steelmakers
According to the China Steel Association (CISA), total emissions in China’s steel industry sur...
Ferrous 22-Apr-2024
The coal ministry will meet with stakeholders on Friday to discuss how to promote coal and lignite g...
Press Releases 15-Feb-2024
Researchers at the Indian Institute of Technology (IIT) Guwahati have developed a corrosion-resistan...
India 29-Nov-2025
Mukand Sumi Special Steel Limited (MSSSL), a joint venture between the Bajaj Group and Sumitomo Corp...
India 01-Sep-2025
According to a report from Nikkei, China's BYD Co., Ltd. is planning to establish a new electric veh...
Latin America 14-Feb-2024
LMEL’s mine to become India’s largest non-coal operation. 63 MTPA production capacity e...
Business 07-May-2025