IMFA Group ferro chrome export jumps 34%
Group to continue to focus on exports in 2000-01
June 02, 2000
Internal Press Release

The IMFA Group comprising of Indian Metals & Ferro Alloys Ltd (IMFA) and Indian Charge Chrome Ltd (ICCL) today announced a significant increase in the production and export of ferro chrome during the last year.

In 1999-2000 the total production of ferro chrome, an essential input for stainless steel, increased by more 20% to 67,333 mt while exports jumped by 34% to 43,084 mt which was mainly to the countries in the Far East. The increased quantum of exports led to higher foreign exchange earnings of US$ 14.40 million.

According to Subhrakant Panda, Joint Managing Director : " Due to the slowdown in the Indian steel industry we had to look to the overseas markets. However, we will continue to focus on exports during the current fiscal since we expect better realisations. We are targeting record production this year and although domestic demand is looking up our thrust will be on exports."

The Odisha based IMFA Group is one of the leading producers of Ferro alloys in India with the largest installed furnace capacity of 130 MVA backed up by a large 108 MW captive thermal power plant and chrome ore & quartz mining. IMFA's production facilities are located at Therubali in Southern Odisha while ICCL's furnaces and power plant is located at Choudwar near Bhubaneswar. All the activities of the Group such as ferro alloys production, electricity generation, chrome ore mining and commercial functions are certified to ISO 9002 standards by IRQS.

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Mr Kishore Mohan Mohanty