Jindal Stainless (JSL) is continuing to evaluate land options for a new stainless steel production facility planned in the Indian state of Maharashtra.
JSL CEO Tarun Khulbe said the company is assessing multiple site options across Maharashtra and expects the location to be finalized within the next one or two quarters.
Khulbe noted that the process is taking some time but is progressing, adding that the company will provide further details on its plans for the project once the site selection process is completed.
The facility is planned with an annual stainless steel production capacity of 4 million tons, with a total investment of INR 400 billion. The investment is expected to be carried out in phases, with the first phase targeted to become operational within the next four years.
Specialty steel for critical sectors
The new facility is also expected to produce specialty steel grades for emerging and critical sectors, including hydrogen, nuclear energy, defense, mobility, infrastructure and the process industry.
The Maharashtra government is expected to support the company by expediting the necessary permits, registrations, approvals and other administrative procedures, as well as providing state-level financial incentives under the investment plan.
Jindal Stainless currently has a combined stainless steel production capacity of 3 million tons per year at its facilities in Hisar, Haryana, and Jajpur, Odisha.
Once the new Maharashtra facility reaches full capacity, the company’s total stainless steel production capacity in India is expected to increase to 7 million tons per year.
Comments
No comment yet.