Jindal Stainless, India’s largest stainless steel manufacturer, has commissioned its nickel pig iron smelter facility in Halmahera Islands, Indonesia, eight months ahead of schedule, according to a stock exchange filing.
This facility, developed through a joint venture with New Yaking Pte. Ltd., secures a long-term nickel supply for Jindal’s stainless steel production. The partnership, announced in March 2023, saw Jindal acquiring a 49pct equity stake for USD 157 mln.
Earlier this year, on May 1, 2024, Jindal Stainless unveiled a three-pronged strategic investment plan. The strategy includes a collaboration with a Singapore entity to establish a stainless steel melt shop in Indonesia, upgrading infrastructure in Jajpur, Odisha, and acquiring Chromeni Steels Private Limited in Gujarat to expand its cold rolling capacity.
Jindal Stainless is on track to reach an annual melt capacity of 4.2 mln tons by 2026. The company operates 16 stainless steel manufacturing and processing facilities across India and abroad, including in Spain and Indonesia, with a network spanning 12 countries. In India, it has ten sales offices and six service centers.
Jindal Stainless Limited’s product portfolio includes stainless steel semi-finished, long and flat steel products.
