Jindal Stainless Investment Strategy Amounting to Rs. 5,400 Crores

Jindal Stainless, a leading stainless steel manufacturing company, has unveiled a comprehensive investment strategy amounting to nearly Rs 5,400 crore to bolster its melting and downstream capacities. The strategy comprises three key initiatives aimed at expanding its footprint and enhancing its capabilities in the stainless steel segment.

Joint Venture in Indonesia: Jindal Stainless has forged a joint venture in Indonesia to develop and operate a stainless steel melt shop with an annual production capacity of 1.2 million tonnes per annum (MTPA). The partner entity involved in this venture is of international repute, bringing extensive experience in managing such projects. This collaboration is expected to increase Jindal Stainless' melting capacity by over 40%, reaching 4.2 MTPA, with an investment exceeding Rs 700 crore.

Expansion of Downstream Lines in Jajpur: With an investment of Rs 1,900 crore, Jindal Stainless plans to expand its downstream lines in Jajpur, Odisha. This expansion aims to enhance value for both domestic and export customers by increasing capacity and improving efficiency. Acquisition of Chromeni Steels Private Limited: Jindal Stainless intends to acquire a 54% stake in Chromeni Steels Private Limited, a Gujarat-based company that operates a 0.6 MTPA cold rolling mill in Mundra. This acquisition involves taking over existing debt of Rs 1,295 crore and an equity purchase of Rs 45 crore. The cold rolling mill at Chromeni Steels is expected to bolster Jindal Stainless' presence in the value-added segment and expand its outreach both domestically and internationally.

Abhyuday Jindal, Managing Director of Jindal Stainless, expressed confidence in the strategic investments, highlighting their potential to enhance operational capabilities, strengthen market presence, and drive long-term growth. These initiatives underscore Jindal Stainless' commitment to innovation, expansion, and value creation in the stainless steel industry.