Indian Metals & Ferro Alloys (IMFA) Managing Director Subhrakant Panda said the company will acquire Tata Steel ’s ferro alloys unit at Kalinganagar for ₹610 crore, with additional working capital and capex taking the total outlay to around ₹750 crore. The move will nearly double IMFA’s capacity and position it among the top six global ferrochrome producers.

“This acquisition gives us strategic synergy as the Kalinganagar unit is just 500 metres from our Greenfield project,” Panda said. The deal includes four furnaces with a combined capacity of 66 MVA and another 33 MVA furnace under construction. IMFA expects an additional ₹50 crore in capital expenditure to complete the commissioning.

Panda clarified that IMFA will meet all chrome ore requirements from its captive mines. “We are no

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