China-based Tsingshan Group, a leading player in the stainless steel sector, and India-based Jindal Stainless (JSL) are reaching a significant milestone by breaking ground on their new joint venture in Indonesia. The plant, named PT Glory Metal Indonesia (GMI), will be located within the Morowali Industrial Park (IMIP). The plant is expected to have an annual stainless steel production capacity of 1.2 million tons.
The joint venture will be used to install key equipment including two 150-tonne Argon Oxygen Decarburization (AOD) converters, a 150t ladle furnace, a Rotary Kiln-Electric-Furnace (RKEF), and a 1,600mm continuous caster. The project represents an investment of USD 180 million.
The plant is scheduled to be operational in November 2025. The plant will use locally sourced ferronickel from the IMIP region, with a focus on optimizing heat recovery and improving production efficiency.
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