JSW Steel rises 2% on gas supply worries HSBC raises Tata Steel target to ₹250 British Steel to supply 120,000 mt billet to Nigeria ₹3,200 crore Tata Steel EAF starts in Ludhiana
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 : Indian Railways Unveils ₹2 Lakh Cr Plan for Three New Dedicated Freight Corridors Spanning 4,300 Km UK weighs retaliation over EU’s proposed steel tariff hike
South Korea’s National Assembly has passed the “K-Steel Act” – a special law...
South Korea 28-Nov-2025
SAIL, the state-owned steel company, reported a 5% rise in crude steel production to 19.2 million to...
Mid Corporate 01-Apr-2024
✅ ArcelorMittal seeks ₹1,500 crore to support South African mills.✅ Financial strain driven by wea...
Business 17-Mar-2025
TVS Mobility and Mitsubishi Corporation are set to collaborate, with Mitsubishi acquiring approximat...
Large Corporate 19-Feb-2024
The Engineering Export Promotion Council of India (EEPC India) has called on the government to inclu...
India 11-Nov-2025
The ministry of new and renewable energy (MNRE) has issued an open invitation for proposals for the...
Renewables 18-Mar-2024