Meghalaya: Maithan Alloys to shut Byrnihat unit indefinitely amid soaring power costs

Maithan Alloys Ltd has announced it will shut down operations at its Byrnihat facility in Meghalaya from August 31, citing a surge in power costs and unfavourable market conditions.

The company confirmed the closure will remain in effect for an indefinite period, according to a regulatory filing on Monday.

The Byrnihat unit contributed 6.12 per cent to its total turnover and 8.16 per cent to net worth in the 2024-25 fiscal. The total revenue stood at Rs 112.17 crore in the last fiscal, the company said.

Maithan Alloys operates three manufacturing units - West Bengal, Meghalaya and Andhra Pradesh. The company is a leading producer of manganese and ferro alloys used in steel manufacturing. (PTI)