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Indian Metals and Ferro Alloys (IMFA) to acquire Tata Steel’s ferro alloys plant in Kalinganagar, Odisha, for ₹610 crore.
What’s the deal: the acquisition will help IMFA double its ferro chrome capacity from 2.84 lakh tonnes to 5.34 lakh tonnes, combining both organic expansion and the new facility.
The Kalinganagar plant’s proximity to IMFA’s captive chrome ore mines and upcoming greenfield project offers strong cost and logistics advantages.
Why it matters: The deal gives IMFA a major scale boost, helping improve its margins. It also makes the company a stronger player in the domestic ferro alloys market, where supply shortages have been a persistent challenge.
Zoom out: India’s ferro alloys market, valued at around $4.69 billion in 2024, is projected to more than double to $10 billion by 2033, growing at an annual rate of 8–9%.
The country currently consumes over 4 million tonnes of ferro alloys annually, while production capacity stands at about 7.5 million tonnes, with exports of nearly 2 million tonnes.
India’s ferro alloys sector is on track to become a key global supplier, supporting the country’s broader industrial and export ambitions.
