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Tuesday, Jun 08, 2004

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IMFA Group plans Rs 600-cr expansion

Our Bureau

Kolkata , June 7

THE IMFA Group, India's largest producer of ferro alloys, on Monday announced expansion plans, which are expected to entail a cumulative investment of Rs 600 crore.

According to a company release, the proposed expansion aims at increasing ferro chrome production by 140,000 tonnes a year, besides adding a 120-MW power plant.

The Group will put up a 96-MVA furnace capacity on land adjacent to its existing industrial complex at Choudwar, Orissa. The chrome ore requirement has been pegged at 100,000 tonnes a year for Phase I of the project, going up to 400,000 tonnes a year for Phase III. The contract for detailed engineering has been awarded to M.N. Dastur & Co.

While Phase I of the project is scheduled to be commissioned by June 2005, Phase II and III of the project are likely to be commissioned in 2007-08 and 2009-10, respectively. The total investment on the ferro chrome expansion project has been pegged at Rs 200 crore.

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