Indian Metals & Ferro Alloys (IMFA) is undertaking a major transformation spanning capacity expansion, renewable energy integration, mining scale-up, and critical minerals as the country’s largest ferrochrome producer positions itself for its next phase of growth, Managing Director Subhrakant Panda said.

The company is targeting ferrochrome output of 400,000 tonnes in 2026–27 (FY27) and more than 500,000 tonnes in FY28 through the acquisition of Tata Steel’s ferrochrome business at Kalinganagar in Odisha and an ongoing greenfield expansion at the same location.

“From the current 260,000 tonnes of ferrochrome output, we will go up to more than 500,000 tonnes,” Panda told Business Standard in an interview in New Delhi.

IMFA acquired Tata Steel’s ferrochrome business at Kalinganagar for ₹707 crore in February this year through internal accruals. The facility, which is already operational, adds 100,000 tonnes of capacity. Alongside this, the company’s greenfield expansion at Kalinganagar will add another 100,000 tonnes, with the first furnace expected to be commissioned by June-end or early July.

To support the expansion, IMFA is sharply increasing chrome ore production from its captive mines. At the same time, the company is undertaking a shift towards renewable energy sourcing in what Panda described as a major strategic transition for the power-intensive ferrochrome business.

“By next year, about 40 per cent of our energy consumption will come from renewable sources, which is quite considerable,” Panda said, adding the company is focused on hybrid solar and wind power to ensure uninterrupted furnace operations.