Kolkata based Maithan Alloys will be investing INR 250 crore in setting up a ferroalloys plant in Visakhapatnam.

Mr Subhash Agarwalla MD of Maithan Alloy said that “The project, which will come up in a special economic zone, will double our total capacity by 120,000 tonnes.”

The company has facilities in West Bengal and Meghalaya with a combined capacity of around 120,000 tonnes.

The company has applied for mines in Visakhapatnam. Mr Agarwalla said that “We are expecting the government to grant us mines.”

He added that “Our products are high-end and hence we are focusing on exports. We are one of the largest producers of manganese alloys and have extended beyond commodity grades to specialized grades.”

The Visakhapatnam plant would go on stream by June 2011.

(Sourced from BS)