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As part of its diversification strategy, a 120 KLD grain-based ethanol plant is being set up at Therubali, Odisha.{{Update inline|date=April 2026}}[{{cite web |title=Indian Metals MD says expansion will be funded via internal accruals - CNBC TV18 |url=https://www.cnbctv18.com/business/indian-metals-and-ferro-alloys-md-subhrakant-panda-dividend-payout-expansion-diversification-plans-19391073.htm |website=CNBCTV18.com |publisher=[[CNBC TV18]] |language=en |date=2 April 2024}}] |
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As part of its diversification strategy, a 120 KLD grain-based ethanol plant is being set up at Therubali, Odisha.{{Update inline|date=April 2026}}[{{cite web |title=Indian Metals MD says expansion will be funded via internal accruals - CNBC TV18 |url=https://www.cnbctv18.com/business/indian-metals-and-ferro-alloys-md-subhrakant-panda-dividend-payout-expansion-diversification-plans-19391073.htm |website=CNBCTV18.com |publisher=[[CNBC TV18]] |language=en |date=2 April 2024}}] |
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In December 2024, IMFA partnered with [[JSW Energy|JSW Green Energy One Ltd]] and JSW Green Energy Seven Ltd to source renewable energy for its smelting operations, comprising of 50 MW AC solar and 100 MW wind power.[{{cite web |title=IMFA partners with JSW Green Energy for renewable power in smelting operations - ET EnergyWorld |url=https://energy.economictimes.indiatimes.com/news/renewable/imfa-partners-with-jsw-green-energy-for-renewable-power-in-smelting-operations/116456705 |website=ETEnergyworld.com |language=en}}] |
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In December 2024, IMFA partnered with [[JSW Energy|JSW Green Energy One Ltd]] and JSW Green Energy Seven Ltd to source renewable energy for its smelting operations, consisting of 50 MW AC solar and 100 MW wind power.[{{cite web |title=IMFA partners with JSW Green Energy for renewable power in smelting operations - ET EnergyWorld |url=https://energy.economictimes.indiatimes.com/news/renewable/imfa-partners-with-jsw-green-energy-for-renewable-power-in-smelting-operations/116456705 |website=ETEnergyworld.com |language=en}}] |