Tata Steel has completed the sale of its ferro alloy plant at Jajpur, Odisha, to Indian Metals & Ferro Alloys Ltd (IMFA) for INR 610 crore (USD 67 mln), according to a stock exchange filing.
The transaction was finalized on February 27, 2026, following receipt of required regulatory approvals, concluding the asset transfer agreement announced in November 2025.
The Kalinganagar facility comprises four furnaces with a combined annual production capacity of 100,000 tons, expandable to 150,000 tons upon commissioning of a partially built fifth furnace. The acquisition increases IMFA’s installed capacity to over 0.5 mln tons per year, positioning it as India’s largest and the world’s sixth-largest ferrochrome producer.
IMFA said the plant’s proximity to its captive chrome ore mines and its planned greenfield expansion will generate operational synergies and support long-term growth.
The divestment aligns with Tata Steel’s strategy to streamline its asset portfolio and focus on core steelmaking operations.
Founded in 1961 and headquartered in Bhubaneswar, IMFA operates integrated manufacturing complexes at Therubali and Choudwar with existing ferrochrome capacity of 284,000 tons per year.
Tata Steel is one of the world’s leading steelmakers, with annual crude steel capacity of 35 mln tons.
1 USD / 91.5 INR
