New Delhi, March 24 Jindal Stainless announced on Tuesday the commissioning of a 1.2 million tonnes stainless steel melting shop (SMS) in Indonesia, as part of its ongoing ₹5,700 crore expansion plan.
With this development, the company said its annual melting capacity has increased to 4.2 million tonnes per annum (MTPA).
Jindal Stainless has a combined melting capacity of 3 MTPA at its plants in Hisar (Haryana) and Jajpur (Odisha). The company has commissioned the 1.2 MTPA stainless steel melting shop (SMS) in Indonesia under a joint venture.
The company also announced an additional investment of ₹900 crore towards augmenting cold rolled capacities in India at Hisar and Kharagpur (West Bengal) by the second quarter of 2027-28. The company, in 2024, had announced an investment of nearly ₹5,700 crore to achieve global leadership in stainless steel.
"With this enhancement in melting and downstream capacities, the company is targeting to achieve a sales volume of 3.5 MTPA by FY29, delivering double-digit CAGR over the next three years," Jindal Stainless said.
A stainless steel melting shop (SMS) is a specialized industrial facility where key raw materials, such as nickel pig iron or ferronickel, chromium, stainless steel scrap, and ferro alloys, are melted and refined to produce high-quality liquid stainless steel.
Jindal Stainless Managing Director Abhyuday Jindal said, "The commissioning of the Indonesia facility ahead of schedule, along with a significant push in downstream capabilities, reflects the commitment to raw material security and an integrated approach to growth."
With an annual turnover of over ₹40,000 crore, Jindal Stainless is India's largest stainless steel player, and among the fifth largest at the global level.
