Tata Steel to acquire certain assets of Stork Ferro and Mineral Industries

For consideration of Rs 155 crore

Tata Steel has today, i.e. 30 March 2022 executed an Asset Transfer Agreement with Stork Ferro and Mineral Industries (SFML) for acquisition of itemized assets to produce ferro alloys for a consideration of Rs 155 crore.

The asset acquisition will provide an inorganic growth opportunity for Tata Steel to augment its Ferro alloys processing capacities.

SFML has two 16.5 MVA furnaces with annual production capacity of ~53 Ktpa located at Balasore, Odisha

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