Bhubaneswar, March 1 -- Indian Metals & Ferro Alloys Ltd (IMFA), India's largest fully integrated producer of value-added ferro chrome, has completed the acquisition of Tata Steel Ltd's ferro chrome plant at Kalinganagar in Odisha's Jajpur district for Rs 707.26 crore.

The transaction includes a base consideration of Rs 610 crore along with applicable GST and adjustments for net working capital. IMFA financed the entire acquisition through internal accruals.

Spread over 115 acres at Kalinganagar, the newly acquired facility houses four furnaces with a combined production capacity of 1 lakh tonnes per annum (TPA). The capacity is expected to increase to 1.5 lakh TPA once the partially constructed fifth furnace becomes operational within ...