IM+ Capitals announces acquisition for new iron ore beneficiation plant in Odisha

10 Jul 2024 CW Team

IM+ Capitals announces the acquisition of approximately 60 acres of land in Odisha. This strategic acquisition is aimed at establishing a Sponge Iron Ore Beneficiation Plant with a capacity of 1.5 million tonne per annum, through a 100% owned subsidiary, Fedders Electric and Engineering.

The new plant is expected to enhance its production capabilities significantly and is slated to be fully operational by March 2025. This expansion aligns the commitment to sustainable growth and value creation for the company.

The company reported a profit of Rs 94.5 crore in the previous fiscal year, reflecting its strong financial performance and robust business model. Establishing the new plant is a testament to ongoing efforts to invest in high-potential projects that drive long-term profitability and market leadership.

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