Honorable Chief Minister of Odisha Shri Mohan Majhi breaks ground for IMFA's expansion plant in Kalinga Nagar Industrial Complex

Founded by the late Dr. Bansidhar Panda, credited with laying the foundation for Odisha's industrial growth, Indian Metals and Ferro Alloys Ltd (IMFA) conducted the groundbreaking ceremony for its new state-of-the-art plant in Kalinga Nagar today. The Hon'ble Chief Minister of Odisha, Shri Mohan Majhi, performed the ritual in the presence of Minister of State (Independent Charge) Industries Shri Sampad Chandra Swain, Minister of State (Independent Charge) Co-operation Shri Pradeep Bal Samanta, Jajpur MP Shri Rabindra Narayan Behera, Odisha MLA Akash Das Nayak, Odisha MLA Amar Nayak and senior IMFA members.

Spread across 124.26 acres, the Kalinga Nagar facility will produce 100,000 metric tonnes of ferro chrome annually. With Phase 1 expected by Q1 FY2026-27, the plant will feature cutting-edge technology and complement IMFA's integrated sites at Choudwar and Therubali-enhancing its total production capacity to 3,84,000 tonnes and reinforcing its position as India's leading producer of value-added ferro chrome.

Highlighting the project's significance, Shri Subhrakant Panda, Managing Director of IMFA, stated, "We remain deeply committed to Odisha's development. This facility will not only elevate the state's industrial credentials but also support IMFA's growth through sustainable and advanced practices."

A pioneer in ferro alloys, IMFA has also entered into a joint venture with JSW Green Energy to supply 110 MW of hybrid renewable energy to power the smelting process at the Kalinga Nagar facility. This will not only enhance IMFA's green credentials but is also a proactive step towards building a greener future; in turn supporting India's mission of achieving net-zero emissions by 2070.

Shares of Indian Metals & Ferro Alloys Limited was last trading in BSE at Rs. 617.70 as compared to the previous close of Rs. 616.00. The total number of shares traded during the day was 8962 in over 611 trades.

The stock hit an intraday high of Rs. 627.25 and intraday low of 610.25. The net turnover during the day was Rs. 5544811.00.

Source : Equity Bulls

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IndianMetalsandFerroAlloys INE919H01018 IMFA Expansion Plant KalingaNagar GroundbreakingCeremony