IMFA to invest Rs 900 crore to boost production from Odisha mines

While the company has had no major capital expenditure for the current fiscal, for FY23, it plans to set up a 100,000 tonne plant at Kaliganagar, capex for which is about Rs 550 crore

In a bid to cater to its upcoming capacity, Indian Metals & Ferro Alloys Ltd (IMFA) will be investing another Rs 900 crore over the next five to six years to boost production from its Mahagiri and Sukinda mines in Odisha.

“For our mining capex, we plan to do underground (in mining) in coming years in a phased manner. We will be looking to reach 850,000 tonne in FY26 then to 950,000 tonne and finally 1.2 million tonne by FY27,” Prem Khandelwal, chief financial officer of IMFA told Business Standard.

Currently, the company’s total mine production stands at 650,000 tonne. While the