Indian Metals Secures Licenses for Greenfield Ferro Chrome Expansion Project in Kalinganagar
Indian Metals & Ferro Alloys Limited has secured key operational clearances for its greenfield ferro chrome expansion project in Kalinganagar. The company confirmed that it has obtained both the Consent to Operate (CTO) and the necessary Factory License for the expansion initiative, designated as KNR 1.The acquisition of these permits allows Indian Metals & Ferro Alloys Limited to move forward with the initial stages of the project. Company officials stated that steps will be initiated next week to begin the process of switching on the first furnace at the facility.
Looking ahead, the company provided a timeline for its production milestone. An update is expected in due course regarding the first tapping of hot metal from the new furnaces, which is anticipated between August 15 and August 20.
IMFA Stock Price Movement
As of 9:49 AM, shares of Indian Metals & Ferro Alloys Limited are shedding value by 1.86%, currently trading at ₹1311.50. The stock traded across a volume of 20,606 shares during the live market session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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