Jindal Stainless has unveiled ambitious expansion and acquisition plans aimed at significantly enhancing its melting and downstream capacities. The company’s strategic vision includes a three-pronged investment approach, designed to establish global leadership in the stainless steel industry.
Central to this strategy is a joint venture (JV) in Indonesia to develop and operate an SMS with an annual production capacity of 1.2 million tonnes. This initiative will boost the company’s melting capacity by over 40%, reaching 4.2 MTPA, with an investment exceeding INR 700 crore. JSL is partnering with an internationally renowned entity and leveraging its extensive expertise in similar projects.
The Indonesian JV is a pivotal component of the company’s growth trajectory, offering optimal speed and raw material security.
Furthermore, the company has allocated approximately INR 1,900 crore for the expansion of its downstream lines in Jajpur, Odisha, to accommodate the increase in melting capacity. In addition, nearly INR 1,450 crore has been earmarked for the associated upgrade of infrastructural facilities, including railway siding, sustainability-related projects, and renewable energy generation.
Moreover, JSL has strategically acquired equity stake in Chromeni Steels Private Limited (CSPL), making CSPL a subsidiary. This acquisition covers the equity transfer and settlement of shareholders’ debt. This move aims to enhance alignment and operational efficiency within the company.
These strategic acquisitions and investments underscore the company’s clear growth plan to become a leading global player. The Indonesian JV will provide speed and raw material security, while the augmentation of the Jajpur lines will offer enhanced value for both domestic and export customers. Additionally, the cold rolling mill at Chromeni will expand the company’s reach both in India and abroad, solidifying its presence in the value-added segment for the long term.
