IMFA's Mega Investment to Drive Growth in Odisha's Chrome and Mining Sectors.

Indian Metals & Ferro Alloys Ltd (IMFA), one of India’s top ferrochrome producers, has announced an ambitious ₹2,000 crore expansion plan to boost its production capacity and diversify into new sectors.

The multi-pronged capital expenditure (capex) will focus on three main areas:

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  Greenfield capacity expansion in its core ferrochrome business.

  
  


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  Ramping up chromite ore mining, a critical raw material for stainless steel production.

  
  


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  A new venture into ethanol production, marking the company's entry into the renewable energy sector.

  
  

According to Subhrakant Panda, Managing Director of IMFA, the company will finance the expansion primarily through internal accruals and a combination of term loans. Panda assured that the company's debt-to-equity ratio would not exceed the 0.5% "upper cap," ensuring IMFA remains a net debt-free company in the long run.