Bhubaneswar: Indian Metals & Ferro Alloys Ltd (IMFA), a leading ferrochrome producer, has announced a Rs 2,000 crore expansion plan in Odisha to boost capacity and enter new sectors.
The plan focuses on three key areas: expanding ferrochrome production through greenfield projects, increasing chromite ore mining, and launching an ethanol production venture, marking its entry into the renewable energy sector.
Managing Director of IMFA, Subhrakant Panda, said the investment will be funded through internal accruals and term loans. He added that IMFA will maintain financial discipline, keeping the debt-to-equity ratio below 0.5 percent to remain net debt-free in the long run.
This move aims to strengthen IMFA’s core operations while tapping into the growing clean energy market, reflecting a strategic shift toward sustainability and long-term growth.
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