Bhubaneswar, 28 February (H.S.): Indian Metals and Ferro Alloys Ltd (IMFA) has completed the strategic acquisition of Tata Steel Ltd's ferrochrome plant in Odisha's Jajpur district at Kalingnagar.In a Saturday statement, IMFA disclosed purchasing the 115-acre facility—currently operating four furnaces with 100,000 tonnes annual capacity—for ₹707.26 crore, fully funded through internal accruals. The deal encompasses a ₹610 crore base price plus GST and working capital.

IMFA noted the fifth furnace, still under construction, will be operational within a year, boosting total output to 150,000 tonnes annually and enhancing synergies near its captive chrome ore mines.

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Hindusthan Samachar / Jun Sarkar