Jindal Stainless is expanding its annual coin blank manufacturing capacity by 20pct to 12,000 tons, driven by expectations of higher demand for non-paper currency across international markets, a company official said.
The coin blanks are produced at Jindal Stainless’ Special Products Division (SPD) at its Hisar facility in Haryana, alongside other high-value products including razor blades and precision strips. The division operates under high-security arrangements and supplies coin blanks to the Indian Mint as well as international mints.
Vijay Bindlish, Unit Head of Jindal Stainless’ Hisar facility, said the company expects demand for coin blanks to increase across various geographies.
Jindal Stainless, India’s largest stainless steel producer, has an annual melt capacity of 4.2 mln tons. The company operates 16 manufacturing and processing facilities across India, Spain, and Indonesia, along with a global network spanning 12 countries. Its product portfolio includes slabs, coils, plates, sheets, precision strips, blade steel, and coin blanks.