Indian Metals & Ferro Alloys has acquired certain plants from its wholly owned subsidiary Utkal Green Energy (UGEL). The company has acquired it as a going concern basis together with their respective assets and liabilities.
The respective unit - one completed fly ash brick plant, one under construction fly ash brick plant and one under construction light weight aggregate plant is transferred from UGEL to the company.
Indian Metals & Ferro Alloys is primarily involved in the production of ferro alloys including charge-chrome (high-carbon ferro-chrome), and has an installed furnace capacity of 157 MVA in its two units in Therubali and Choudwar2 districts of Orissa. The company’s operations are supported by a 108 MW captive thermal power plant (at Choudwar) and captive chromite mines.
