Indian Metals and Ferro Alloys Limited (IMFA) has announced a major capital expenditure of INR 19,000 million (~$216 million) to expand its chrome ore mining and ferrochrome production capacities, according to a company statement issued on Tuesday, July 5.
Kalinganagar Facility Expansion
A significant portion of the investment—INR 9,000 million (~$102 million)—will go toward expanding IMFA’s Kalinganagar facility in Odisha. The company plans to install two new ferrochrome furnaces with a combined capacity of 100,000 metric tons, expected to become operational by 2026.
To further improve energy efficiency, IMFA will also install a waste heat recovery power plant at the facility.
Chrome Ore Mining Boost
IMFA will allocate the remaining INR 10,000 million (~$114 million) to scale up chrome ore mining operations, aiming to:
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Reach 900,000 mt/year of chrome ore output by the end of 2026–2027
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Increase this to 1.2 million mt/year in a second phase, with a timeline yet to be disclosed
For the current fiscal year, IMFA is targeting 800,000 mt of chrome ore production from its Sukinda mines in Odisha.
Funding Strategy
The company emphasized that it will fund the expansion primarily through internal accruals, keeping external borrowings to a minimum.
This expansion reflects IMFA’s long-term growth strategy to strengthen its position in the global ferrochrome market and support India’s industrial demand.
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