Maithan Alloys to invest Rs 250 cr for Vizag plant

Kolkata-based Maithan Alloys will be investing Rs 250 crore in setting up a ferro alloys plant in Vishakhapatnam.

“The project, which will come up in a special economic zone, will double our total capacity by 120,000 tonnes,” managing director Subhash Agarwalla said. 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 Vishakhapatnam. “We are expecting the government to grant us mines,” Agarwalla said. Maithon would be exporting 100 per cent of the output.

“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,” Agarwalla explained. The Vishakhapatnam plant would go onstream by June 2011.

Maithan has a mine in Orissa as well, which has run into environment issues. As part of its backward integration plan, Maithan has a captive power plant in Meghalaya.