Imfa Group Crosses 1 Lakh Tonne Mark In Ferro Chrome Output

Imfa group, India's largest producer of ferro alloys, has crossed the one lakh tonne mark by producing 100,368 mt ferro chrome during 2002-03.

Imfa group consists of Indian Metals & Ferro Alloys Ltd (IMFA) and Indian Charge Chrome Ltd (ICCL). The company sources claimed that this is the first time any ferro alloys producer in the country has crossed the one lakh tonne mark.

While ICCL produced 65,458 tonnes of ferro chrome, Imfa produced 34,910 tonnes of ferrochrome registering growth of 48 per cent and 41 per cent respectively over the previous year.

This apart, the company has also produced a record 36,584 mt of ferro silicon. The captive power plant of ICCL generated 842 million units (96% PLF) and the mining division raised 232,398 tonnes of chrome ore thereby enabling the group to build on its unique competitive advantage of being India's only fully integrated ferro alloys producer.

ICCL exported 46,283 mt ferro chrome during 2002-03 which is 28 per cent higher than the previous year's figure.

Subhrakant Panda, joint managing director of Imfa group, said: "The company has gone from strength to strength after the long envisaged total integration finally came into being with the allotment of captive chrome ore mines in Sukinda.

We have been able to leverage our unique position as India's only fully integrated ferro alloys producer into a globally significant profile."

Panda said with the steel sector bouncing back the future should see continued growth and an improvement in earnings. "We are confident that given the dedication and dynamism of our people we will be able to perform even better in FY 2003-04", he observed.