Maithan Alloys on expansion mode, to invest Rs 600 crore

Maithan Alloys Limited, which is on expansion mode, is planning to invest around Rs 600 crore on both organic and inorganic expansions over the next three years.

The company produces Ferro Manganese, Silico Manganese and Ferro Silicon at its plants at Kalyaneshwari in West Bengal, Visakhapatnam in Andhra Pradesh and Ri-Bhoi in Meghalaya.

Maithan Alloys has a combined capacity of 2,25,000 tonnes per annum and a capacity utilisation of over 90 per cent

Subodh Agarwalla, Director and CEO, Maithan Alloys, was quoted as saying by BusinessLine that plans are afoot to set up a 1,20,000 tonne unit at Bankura, approximately 206 km from Kolkata, entailing an investment of close to Rs 270 crore.

He added: “We have applied for environmental clearance to set up the unit and are hoping to get the same in the next six months.”

Image Credit : maithanalloys.com

Author: Research Desk