IMFA Completes ₹707 Crore Acquisition Of Tata Steel's Ferrochrome Plant In Odisha, Boosts Capacity To Lead India
Indian Metals & Ferro Alloys Ltd (IMFA), India's largest fully integrated ferrochrome producer, has completed the acquisition of Tata Steel's ferrochrome plant in Kalinganagar, Odisha, for a total transaction value of Rs 707.26 crore (base Rs 610 crore plus GST and net working capital), funded entirely from internal accruals. The 115-acre facility, with four furnaces producing 100,000 tpa.
Indian Metals & Ferro Alloys Ltd (IMFA), India's largest fully integrated ferrochrome producer, has completed the acquisition of Tata Steel's ferrochrome plant in Kalinganagar, Odisha, for a total transaction value of Rs 707.26 crore. |
New Delhi: Indian Metals & Ferro Alloys has completed the acquisition of a ferrochrome plant in Odisha from Tata Steel at a transaction cost of Rs 707.26 crore.
Spread across 115 acres in Kalinganagar, the newly-acquired facility consists of four furnaces capable of producing 100,000 tonnes per annum (tpa) annually which will further increase to 150,000 tpa when thepartially built fifth furnace is commissioned in approximately one year, IMFA said in a statement.
"The transaction is valued at Rs 707.26 crore comprising base consideration of Rs 610 crore along with GST and net working capital, and has been funded entirely from internal accruals," the company said. Bhubaneswar-headquartered Indian Metals & Ferro Alloys Ltd (IMFA) is India'slargest fully integrated producer of value-added ferro chrome.
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