Jindal Steel and New Yanking companies to establish a new plant

Recently, an Indian stainless steel company, Jindal Steel, stated that it has purchased 49 percent of Indonesian cast iron producer New Yanking for rupees 12.9 billion ($157/m).

At the same time, these two companies will cooperate to establish an NPI facility.

This facility, which will be located in the Halnahera Islands, will have a capacity of 200,000 NPI and an average nickel content of 14% per year.

For the plant, which is planned to start production in 2025, Jindal Steel's CEO stated that the company aims to increase its production capacity to 2.1 million/tonne per year by 2024.

Jindal Steel will invest $320/m in production equipment. All these activities can help the new facility to become the top 10 stainless steel producers outside of China.