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Indian Metals to offload stake in Indonesian coal block: Report

05 Mar 2013 Evaluate

Indian Metals and Ferro Alloys (IMFA), one of the largest integrated producers of ferro alloys in the country, is reportedly planning to offload stake in Indonesian Coal Block. The mine is located in the Central Kalimantan region of Indonesia.

The company is holding 70% stake in coal block while, the remaining 30% stake is held by Indonesian businessmen who also hold the crucial licenses or ‘IUPs’ in local parlance.

Earlier in 2011, the company had acquired a 70% stake in a coal mine in Indonesia. The acquisition was done through Indmet Mining Pte, a step down subsidiary incorporated in Singapore specifically for the purpose.

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 Choudwar 2 districts of Orissa. The company’s operations are supported by a 108 MW captive thermal power plant (at Choudwar) and captive chromite mines.

Indian Metal & Ferro Share Price

1566.85 14.30 (0.92%)
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Company Name CMP
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