IMR AG expects to ramp up its capacity in India through acquisitions and greenfield expansion

KOLKATA: Swiss trading major IMR AG , the $2 billion global trading company operated by a clutch of PIO promoters and ex-Tata Steel senior professionals expects to build up a total capacity of 4- 5 million tonnes per annum (mtpa) through acquisitions and brownfield expansion as part of its aggressive growth plans in India.
In its attempt to participate in turnaround of stressed Indian Steel and related assets, IMR has bid aggressively for a few NCLT assets and is on the lookout for good quality assets.

As a green field capacity, IMR is also working out the feasibility of a large steel plant in Cuddapah district with the Andhra Pradesh government, Aurindam Dey, President (Projects), IMR Resources India said.

Globally, IMR is on a growth curve in the area of mining and manufacturing to augment its trading portfolio. It turned around the Sedibang Iron Ore asset that it bought from Tata Steel in 2019 into a profitable entity.

IMR’s 200 million tonne capacity coking coal asset in Borneo (Indonesia) has commenced production and is expected to reach a production of 2 mtpa by end of next year.

Since India is a net importer of coking coal required for the steel industry with a shortfall of over 50 million tonne per year, IMR expects development in this area will help meet India's shortfall in a cost effective manner.