IMFA celebrates 46th Foundation Day
Foundation Stone laid for 30 MW expansion power project
Nov 26, 2007
Internal Press Release

Indian Metals & Ferro Alloys Ltd (IMFA), India's largest producer of ferro alloys, celebrated its 46th Foundation Day today with functions being held at various establishments of the Company throughout Odisha. This year is also the 40th anniversary of production, which first took place at IMFA's Therubali Complex in Southern Odisha. Besides, today is also the birthday of the Company's Founder-Chairman Dr Bansidhar Panda.

At a function held in Choudwar Shri Surjya Narayan Patro, Hon'ble Minister for Energy, Culture & Information Technology also laid the Foundation Stone of the 30 MW expansion power project which will use coal washery rejects as primary fuel besides capturing furnace gas which is presently being flared. Shri Dharmananda Behera, Hon'ble MLA, Tangi-Choudwar was also present at the ceremony. Later the dignitaries participated in the Foundation Day celebrations.

Delivering the welcome address on the occasion Subhrakant Panda, Managing Director, said that IMFA has committed investments of about Rs 750 crores over the next 2 years to expand ferro alloys capacity, build IPP's and backward integrate into coal mining, which would give the Company a further competitive edge. He also said that the Company was awaiting clearance from the State Government to embark upon a mega diversification into alumina-aluminium, which would entail an outlay of more than Rs 8000 crores.

Summing up, Mr Panda said : "Value addition has been at the core of IMFA's endeavours for all these years and, indeed, will be the cornerstone of our approach for the next 4 decades and more."

Dignitaries present at the function included among others Ms Paramita Mahapatra, Director of IMFA & Managing Director of UMSL, Mr D P Bagchi, former Chief Secretary of Odisha, Mr D J P Samuel, Dy Director ARC and Mr V K Sood, renowned power sector expert who was a member of CEA and former Chairman of DERC. Prof Satyananda Acharya, Director, IMFA, General Shankar Roychowdhury and senior executives of IMFA and Group Companies were also present at the function.

Long & Dedicated Service Awards in the 10, 15, 20, 25 and 30 years categories were presented to employees besides various awards for sports, housekeeping, etc. School children were also felicitated besides awards being presented for Inter School / College competitions. A cultural show was presented by Adruta Children Home.

Mr Subhrakant Panda also announced that the scope of the "Professor Ghanashyam Dash Scholarship for Higher Education" which was hitherto restricted to only the children of IMFA employees would now to enlarged. Starting next year 2 new scholarships will be added for which any meritorious student domiciled in Odisha would be eligible.

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