Indian Metals & Ferro Alloys has received an approval to acquire certain assets from its wholly owned subsidiary - Utkal Green Energy on a going concern basis. The board at its meeting held on November 14, 2011 has approved for the same.
The company has received nod to acquire one fly ash brick plant. Further, it has also received approval to acquire one fly ash brick plant under execution and one light weight aggregate plant under execution.
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.
