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Maithan Alloys draws expansion plans

Tuesday, 12 Feb 2019
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Kolkata-based manganese alloy producer Maithan Alloys has envisaged plans to make an investment of Rs 600 crore on both organic and inorganic expansions over the next three years.

 

The company’s plans are afoot to set up a 1,20,000 tonne unit at Bankura, near Kolkata in West Bengal, which will entail an investment of Rs 270 crore. Maithan Alloys has applied for environmental clearance (EC) to set up the unit and are expecting to get the same in the next six months.

The company manufactures ferro manganese, silico manganese and ferro silicon at its plants at Kalyaneshwari in West Bengal, Visakhapatnam in Andhra Pradesh and in Ri-Bhoi, Meghalaya. It has a combined capacity of 2,25,000 tpa and a capacity utilisation of over 90 percent.

The objective is to double the capacity in the next three to four years. Apart from the 1,20,000 tonne unit at Bankura, it will explore brownfield expansion at its Kalyaneshwari unit or a greenfield project at Vizag. It is also in talks with a couple of companies which are in various stages of insolvency proceedings for inorganic expansion.

 
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