KOLKATA: Maithan Alloys, a company engaged in manganese and ferro alloy mining and exports, is planning to invest Rs. 275 crore in setting up a 1.2 lakh tonne capacity ferro alloy unit in Andhra Pradesh. Subhas Chandra Agarwalla, Managing Director, said at a press conference here on Wednesday that the project would be completed by 2011. The financial closure is expected by March 2009. He said that at present Maithan Alloys had two plants, one in West Bengal with a capacity of 94,600 tonnes per annum and another in Meghalaya with a 28,000 tonnes capacity. The latter plant will become operational by this year. The BSE-listed company is a joint venture of the Maithan group and the BMW group and its 2007-08 sales turnover stood at Rs. 378 crore. The board of the company, which met on Wednesday, announced its decision to form a subsidiary for taking up and acquiring mines and mineral business. The board also decided to shed the company