Indian Metals & Ferro Alloys Ltd acquires Tata Steel ferrochrome plant for Rs 707 crore
Change
Indian Metals & Ferro Alloys Ltd completed the purchase of a 115-acre ferrochrome facility in Kalinganagar from Tata Steel for Rs 707.26 crore, taking four furnaces with combined output of 100,000 tonnes per annum (tpa) into its operations and planning to commission a partially built fifth furnace to raise capacity to 150,000 tpa in about one year, funded entirely from internal accruals.
Why it matters
Operational and legal control of the Kalinganagar ferrochrome facility has transferred to Indian Metals & Ferro Alloys Ltd, so all future plant-level decisions, contracts, and approvals will be made by IMFA rather than Tata Steel. Suppliers, maintenance contractors, and customers tied to the facility must therefore re-establish contractual relations with IMFA to transact with the plant going forward.
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Topics
Mergers & Acquisitions Supply Chain & Logistics Manufacturing