IMFA Group announces major expansion plans 96 MVA furnace capacity, 120 MW power plant on the anvil
1.4 lakh tonnes per annum ferro chrome capacity to be added
Jun 07, 2004
Internal Press Release

IMFA Group, India’s largest producer of ferro alloys with 130 MVA installed furnace capacity, today announced major expansion plans which would increase ferro chrome production by 1,40,000 tonnes per annum besides adding a 120 MW power plant.

Mr Subhrakant Panda, Joint Managing Director accompanied by Mr S P Mathur, Director (Finance) and Mr J K Misra, Director (Corporate) met the Hon’ble Chief Minister of Odisha Mr Naveen Patnaik on Friday, June 4th at the State Secretariat and apprised him about the Group’s expansion plans. Senior State Government officials – Mr Ajit Tripathy, Principal Secretary (Industries), Dr R N Bohidar, Principal Secretary (Steel & Mines) and Mr J K Mohapatra, Secretary to the Chief Minister – were also present during the meeting.

IMFA Group is proposing to put up 96 MVA furnace capacity – 2x24 MVA and 1x48 MVA – on land already available next to its existing industrial complex at Choudwar, Odisha. The project which has an outlay of Rs 200 crores will produce 1,40,000 tonnes per annum ferro chrome (or, alternately, other ferro alloys). The chrome ore requirement is 1,00,000 tonnes per annum for Phase 1 going up to 4,00,000 tonnes per annum upon commissioning of Phase 3 for which a long term arrangement is essential.

Financial closure has already been achieved for the 24 MVA furnace to be put up in Phase 1 and orders worth more than Rs 10 crores have been placed for long lead items like transformers & electrode holder. M N Dastur & Co has been awarded the contract for detailed engineering. As such, the furnace will be commissioned in June 2005.

Discussions pertaining to equipment selection & financial closure have started for Phase 2 which will be commissioned in 2007-08 while the third & final phase of the expansion project will be commissioned in the year 2009-10. IMFA Group is also working towards financial closure of a 120 MW power plant which will be operational by 2007-08 at a cost of about Rs 400 crores.

Commenting on the developments Mr Subhrakant Panda, Joint Managing Director, said : “The ferro chrome industry has witnessed a resurgence on the back of strong demand particularly in Asia. Demand in India is also increasing at a fast clip due to numerous infrastructure & construction projects which require stainless steel. Our expansion plans have been formulated with a view to not only tap into increasing demand for ferro chrome but also build upon our leadership position in the industry. The highlight of this project is that value addition will take place within Odisha which we believe is imperative.”

He added : “We made a presentation about our expansion plans to the Hon’ble Chief Minister and senior government officials who were very receptive. Since the first phase is already underway we have requested for expeditiously entering into an MOU with the State Government which will enable us to pursue the project with full vigour.” In this context Mr Panda said that meetings with relevant government departments & agencies were scheduled during the coming week.

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