Maithon Alloys Ltd (Kolkata) has chosen Visakhapatnam, Andhra Pradesh, for its proposed ferroalloy project. Essential ingredients for stainless steel production the project, with a capacity of 1.2 lakh tpa, will mainly produce ferromanganese and ferrosilicon. Maithon Alloys has proposed to undertake this project through a subsidiary in which the parent company will make an investment of Rs 275 crore. The Rs 80-crore project will have a capacity of 28,000tpa. Once the new projects are implemented, the company’s overall ferroalloys capacity will cross 2.4 lakh tpa. Maithon’s new ferroalloy unit in Meghalaya would be ready by March next year.