Indian Metals & Ferro Alloys (IMFA) has chalked out a Rs 1,000 crore investment plan to increase production capacity and enhance captive power generation in the next two years to meet the growing demand.
Currently, IMFA is expanding production capacity of its ferro-chrome mill in Orissa from the present 2.35 to 2.75 lakh tonne. The company is also expanding its existing captive power unit by 30 MW to about 140 MW and the new line is likely to run on both coal and gas.
The expanded line is likely to be commissioned by March 2010. In addition to the expanded capacity, the company is also in process of setting up additional 120 MW line. According to sources, it has started the construction for the unit which is expected to be complete in next two years.
In order to feed the captive power units, the company has been allocated a coal block at Angul in Orissa with an estimated annual mining capacity of 130 million tonne.