25 August, 2011
Indian Metals & Ferro Alloys Ltd (IMFA) is planning to spend Rs 6,600 crore over the next five years to set up a 1,320-Mw power plant in Orissa. With this, IMFA, which currently produces power for its own captive use as a part of its backward integration strategy, will become a commercial power generator. The company is India’s largest producer of ferro alloys, used in manufacturing of stainless steel. The company plans to set up a 1,320-MW independent power plant, with two units of 660 MW each. IMFA produced 180,000 tonnes of ferro chrome in 2010-11 from five of its six arc furnaces at Cuttack and Choudwar in Orissa. It operates 108 MW captive power generation capacity, as electricity accounts for 40% of the cost of production. It would expand its captive power capacity to 258 Mw by March, 12.