Tata Steel to acquire itemized assets from SFML
31st Mar 2022

Tata Steel has executed an Asset Transfer Agreement with Stork Ferro and Mineral Industries (SFML) for acquisition of itemized assets to produce ferro alloys. The asset acquisition will provide an inorganic growth opportunity for Tata Steel to augment its Ferro alloys processing capacities. The asset purchase transaction will be carried out for cash consideration of Rs 155 crore plus applicable tax.

SFML has two 16.5 MVA furnaces with annual production capacity of 53 kilo tonne per annum (KTPA) located at Balasore, Odisha.

Tata Steel, the flagship company of the Tata group, is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 company.