Maithan Ferrous Private Limited (MFPL), a subsidiary of a larger company, has switched on its two 16.5 MVA Submerged Arc Furnaces at its newly established Ferro Alloy Plant in Bankura, West Bengal. The furnace activation occurred yesterday marking a significant step towards operational readiness.
The shares of Maithan Alloys Limited closed at ₹1,149, down by ₹1.00 or 0.09 per cent, on the BSE today.
The production at the new plant is set to begin next week, with plans to gradually increase output throughout September 2024. This development is part of MFPL’s expansion strategy to enhance its manufacturing capabilities in the ferroalloy sector.
Further updates on the scaling-up of production and other operational milestones are expected as the plant progresses towards full capacity.