Kolkata, Jun 30 (PTI) Maithan Alloys Ltd on Monday announced the closure of its Byrnihat unit in Meghalaya from August 31, citing adverse market conditions and a sharp increase in power costs in the northeastern state.

In a regulatory filing, the company said the closure would be for an “indefinite period”.

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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.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)