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Indian Metals & Ferro Alloys has acquired Tata Steel’s ferro chrome plant in Kalinganagar, Odisha for ₹ 610 crore. The company has signed definitive agreements and the deal will add 99 MVA furnace capacity (66 MVA existing and 33 MVA under construction), making IMFA the country’s largest producer and sixth largest globally with total capacity in excess of 0.5 million tonnes. Subject to the satisfaction of agreed conditions and requisite approvals, the transaction is expected to close in 3 months. Spread across 115 acres in Kalinganagar, the facility being acquired consists of four furnaces capable of producing 1 lakh tonnes per annum, which will further increase to 1.50 lakh tpa once the fifth furnace is commissioned, said the company. The acquired facility is close to the company’s captive chrome ore mines, and the upcoming greenfield expansion will lead to significant costs savings and operational synergies, it added. Subhrakant Panda, Managing Director, IMFA, said along with ongoing greenfield expansion, it will take total installed capacity beyond 0.5 million tonnes enabling the company to increase market share with a particular focus on domestic sales when demand for ferro chrome is increasing due to India’s rapid economic growth. The company is committed to building on the strong foundation of a fully integrated business model, which will not only result in cost savings and operational synergies but also add up to the bottom line. Further, the acquisition will be funded from internal accruals, he said. Published on November 4, 2025
