Projects View

Jindal Stainless to Invest 5,400 crores to Expand Melting and Downstream Capacity.

Specifications:

Name:

Jindal Stainless to Invest 5,400 crores to Expand Melting and Downstream Capacity.

Location:

India

Company:

Jindal Stainless

Estimated Cost:

5,400 crores

Source:

https://www.jindalstainless.com/

Introduction:

Jindal Stainless, India’s leading manufacturer of stainless steel, has announced ambitious plans for expansion and acquisition. The company will invest 5,400 crores to boost its melting and downstream capacities, aiming to become one of the largest stainless steel producers in the world.

Features:

Jindal Stainless has entered into a joint venture (JV) to develop and operate a stainless steel melt shop (SMS) in Indonesia, which will have an annual production capacity of 1.2 million tonnes per annum (MTPA). This project will boost the company’s melting capacity by over 40%, bringing it to 4.2 MTPA with an investment exceeding 700 crore.

Additionally, the company has allocated approximately 1,900 crore for expanding its downstream lines in Jajpur, Odisha, to accommodate the increased melting capacity.

The transactions involve a total outlay of around 1,340 crore, which includes taking over existing debt of approximately 1,295 crore and around 45 crore for equity purchase.

The investment in upstream facilities in Indonesia is structured as a plug-and-play model, with expectations to become operational within the next 24 months, thanks to the existing industrial park facilities at the site.