Article in Business India
January 5th - 18th, 2004

Subhrakant Panda, Joint Managing Director of Indian Metals Ferro Alloys Ltd. (IMFA) and Indian Charge Chrome Ltd.(ICCL) is confident of his company’s prospects once again. “Things are looking up,” he says, “There has been an operational turnaround in ICCL after the IMFA group started operating captive mines allotted to it in Sukinda Valley. ICCL has set new production and generation records, and has been conferred the ‘State Export Award’ for two consecutive years. Both the furnace as well as the power plant are now operating at over 100 per cent capacity.”

The IMFA group is a producer of ferro alloys with 130 MVA installed furnace capacity backed up by a 108 MW captive power plant and its own chrome ore mines. The break-up of the Soviet Union led to a large amount of charge chrome being produced in Kazakhstan finding its way into the international market. From an average of around 60 cents when the project was conceived and commissioned the price fell to 26 cents. This had caused ICCL to default on loans taken from financial institutions and banks.

For any information relating to IMFA Group or to enquire about a Press Release issued by us please contact:

Mr Kishore Mohan Mohanty
Bhubaneswar
email: kishoremohanty@imfa.in