Balasore Alloys has executed a business transfer agreement with Rohit Ferro Tech for acquisition of its ferro alloys plant at Kalinganagar Industrial Complex, Jajpur district in state of Odisha as a going concern on a slump sale basis.
The company has taken this step consequent to the approval granted by the Business Acquisition Committee of the Board of Directors.
Balasore Alloys is one of the largest ferro alloys producer and suppliers in India. The company has captive mines in different locations like chromite ore mines in Sukinda Valley at Jajpur Road (Orissa), Manganese Ore Mines in Hathoda (Madhya Pradesh).