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Jindal Stainless Ltd is evaluating multiple land options in Maharashtra for its proposed INR 40,000 crore stainless steel manufacturing facility, with the company expecting greater clarity on the site and project plans within the next one or two quarters. The proposed plant will have a capacity of 4 million tonnes per annum (MTPA) and is planned to be developed in phases, with the first phase expected to become operational within four years. The facility will also manufacture specialised steel grades for applications in hydrogen, nuclear energy, defence, mobility, infrastructure and process industries. The Maharashtra government has committed to facilitating permissions, registrations, approvals, clearances and fiscal incentives. The company currently has a combined 3 MTPA capacity at its plants in Hisar, Haryana, and Jajpur, Odisha.
Jindal Stainless Ltd is scouting multiple land options in Maharashtra for its proposed INR 40,000 crore stainless steel manufacturing facility, with the company expecting greater clarity on the location and project plans within the next one or two quarters, its CEO Tarun Khulbe said on Saturday.
Khulbe said the site identification process was taking some time but was progressing, while responding to a question on land acquisition for the proposed project. He indicated that the company was evaluating several land options across Maharashtra before finalising the location.
The company expects to provide greater clarity on the project after the site selection process advances. Khulbe said Jindal Stainless would subsequently come out with its plans once the location-related process reaches greater certainty.
The proposed Maharashtra facility is planned with a total manufacturing capacity of 4 million tonnes per annum (MTPA). The plant will be developed in phases, with the first phase expected to become operational within the next four years.
The project is also intended to expand Jindal Stainless’ production of specialised stainless steel grades for critical applications. These include emerging and strategic sectors such as hydrogen, nuclear energy, defence, mobility, infrastructure and process industries.
The proposed investment is being supported by the Maharashtra government, which has said it will facilitate the project by expediting the required permissions, registrations, approvals and clearances through the relevant state departments. The state government will also provide fiscal incentives applicable to the investment, according to the company.
The Maharashtra facility forms part of Jindal Stainless’ plans to expand its manufacturing capacity in India. The company currently has a combined production capacity of 3 MTPA through its two existing plants, located in Hisar in Haryana and Jajpur in Odisha.
Once the proposed Maharashtra facility becomes fully operational, Jindal Stainless’ total manufacturing capacity in India is expected to increase to 7 MTPA. The additional 4 MTPA capacity at the Maharashtra site would therefore represent a substantial expansion of the company’s existing domestic production base.
The company has not yet finalised the site for the project. The ongoing process involves evaluating land options in Maharashtra, after which further details of the development and implementation plans are expected to emerge.
Jindal Stainless is currently India’s largest stainless steel manufacturing player, with its existing production operations spread across Haryana and Odisha. The proposed Maharashtra investment would add a third manufacturing location to its domestic footprint and increase its capacity to serve applications across conventional and emerging industrial sectors.
Source - PTI
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