IMFA Projects Update: Ferro Chrome Project Nears Completion, Ethanol Project Faces Delay
IMFA's Greenfield Ferro Chrome Project in Kalinganagar is in final construction stages, with furnace pre-commissioning starting June 2026. An Ethanol Project in Therubali is delayed to July 2026 due to equipment delivery and geopolitical issues, with no material financial impact expected. A strategic acquisition project is complete and operational.
The update concerns significant ongoing projects, including a large ferrochrome project nearing completion and an ethanol project facing delays. While the company states no material financial impact from the ethanol project delay, the progress and setbacks on these projects have a medium-term impact on the company's operational outlook.
The update provides progress on some projects (Ferro Chrome, Strategic Acquisition) but also notes a delay in another (Ethanol Project). The overall sentiment is neutral as positive and negative developments are balanced.
Indian Metals & Ferro Alloys Limited (IMFA) has provided an update on its ongoing projects. The 100,000 tpa Greenfield Ferro Chrome Project in Kalinganagar, featuring two 33 MVA furnaces, is in its final construction stages. Pre-commissioning activities for the first furnace are scheduled for June 2026, followed by the second furnace in September 2026.
The strategic acquisition project in Kalinganagar is complete, with all four furnaces now operational. However, the Ethanol Project in Therubali is experiencing a delay in commissioning. This is attributed to slippage in equipment delivery and the impact of the ongoing geopolitical crisis. Erection work is currently underway, and the project is now expected to be commissioned in July 2026. IMFA stated that this delay will not have a material impact on the company's financials.
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