Indian manganese alloy producer Maithan Alloys Ltd will infuse around 600 crore rupees ($85 million) in both organic and inorganic expansions over the next three years.
With the investment, Maithan Alloys will establish a 120,000-tonne unit at Bankura, approximately 206 kilometres from Kolkata costing about $37.9 million to boost capacity.
The company will also explore brownfield expansion at its Kalyaneshwari unit or a greenfield project at Vizag and is in talks with a couple of companies which are in various stages of insolvency proceedings for inorganic expansion.
Maithan Alloys revealed that it has applied for environmental clearance to set up the unit in the next six months.