Jindal Stainless Boosts Global Footprint with Indonesia SMS Launch

Jindal Stainless announced the commissioning of a 1.2 million tonnes stainless steel melt shop in Indonesia on Tuesday, which forms part of its ongoing expansion initiatives, valued at Rs 5,700 crore. This latest development boosts the company's annual melting capacity to 4.2 million tonnes per annum.

The new melt shop in Indonesia is a joint venture, enhancing Jindal Stainless’s facilities, which currently include a combined melt capacity of 3 MTPA at Hisar, Haryana, and Jajpur, Odisha plants. The company forecasted a target sales volume of 3.5 million tonnes per annum by the fiscal year 2029, aiming for a double-digit compound annual growth rate over the next three years.

Leading the initiative, Managing Director Abhyuday Jindal highlighted that the timely commissioning signifies the company's dedication to ensuring raw material security and executing an integrated growth approach. With an annual turnover surpassing Rs 40,000 crore, Jindal Stainless stands as India's largest stainless steel manufacturer and ranks among the top five globally.