Indian Metals & Ferro Alloys (IMFA) announced a ₹4,000 crore capital expenditure plan to nearly double its ferro chrome production. The investment responds to rising domestic demand for stainless steel.
The company will allocate funds to expand captive mining operations and increase renewable energy usage. IMFA also plans to diversify its portfolio into ethanol and critical minerals.
This strategy aims to shift the company’s primary sales focus from exports to the local market. The expansion intends to strengthen IMFA's market position and develop new revenue streams.