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The Company has outlined a multi-pronged medium-term strategy.
Volume: The Company is creating a 72-MVA greenfield facility at Atchutapuram Special Economic Zone (SEZ) Visakhapatnam (Andhra Pradesh, India) with an investment of over Rs. 250 crore. The facility is expected to be commissioned by September 2011 and scale to rated capacity by December 2011. Maithan Alloys Ltd. is also pursuing properties with rich mineral deposits.
Value: The Company invested in manganese ore mines in Orissa with an estimated two million tonne reserve. Mining will commence after obtaining forest clearances. The application for the acquisition of additional mines (2-million tonne reserve) is at an advanced stage. The acquisition of these assets will secure 25% of the Company’s ore requirement at enhanced capacity.
Captive power generation: The Company is investing in power generation facilities that provide uninterrupted, quality and low-cost power for captive use. The Company expects to enhance captive capacity to 250 MW in five years.
Products: The Company is investing in state-of-the-art technology to manufacture high-value products with niche applications.
Reach: The Company is widening its distribution across key domestic and global markets to reach customers faster.