Calcutta: Maithan Alloys Limited has earmarked an investment of Rs 275 crore to expand capacity in Bengal and is eyeing assets referred for corporate insolvency and liquidation.
The company informed the BSE that its board has approved a greenfield plant with an estimated capacity of 1,20,000 tonnes per annum ferro alloy in the state. The unit is expected to be set up within 30 months and the investment will be financed through internal accruals.
“Our profits are going up and we have cash on our books to go for an expansion. The new unit will expand our capacity by around 50 per cent. The new plant will be close to our existing plant,” said Subodh Agarwalla, chief executive officer of Maithon Alloys…
Read the full article at: https://www.telegraphindia.com/business/maithon-alloys-plans-new-plant-in-bengal-227204
