Jindal Stainless Announces Rs 5,400 Crore Expansion Plans Focused on Renewables

Jindal Stainless unveils expansion strategy with investments worth Rs 5,400 crore, including joint venture in Indonesia and downstream expansion in Odisha.

  • Jindal Stainless unveils expansion strategy with investments worth Rs 5,400 crore, including joint venture in Indonesia and downstream expansion in Odisha.
  • Company emphasizes shift towards renewables, allocating funds for sustainability projects and renewable energy generation.
  • Acquisition of Chromeni Steels to enhance value-added segment and strengthen presence in India and abroad.

Jindal Stainless reveals ambitious expansion plans, aiming to bolster its global leadership in stainless steel production. With investments totaling Rs 5,400 crore, the company sets its sights on increasing melting and downstream capacities.

Highlighting a commitment to sustainability, Jindal Stainless prioritizes renewables over thermal power for its expansion initiatives. The company earmarks funds for sustainability-related projects and renewable energy generation, reflecting a shift towards eco-friendly practices.

Moreover, strategic investments include a joint venture in Indonesia to develop a stainless steel melt shop, along with downstream expansion in Jajpur, Odisha. Additionally, the acquisition of Chromeni Steels is poised to strengthen the company’s presence in the value-added segment, both domestically and internationally.