Jindal Stainless Scouts Maharashtra Site, ₹40,000-Crore Project Takes Shape

Mumbai: Jindal Stainless Ltd (JSL) expects to finalise the location for its proposed Rs 40,000-crore stainless steel manufacturing facility in Maharashtra within the next two quarters, as the company evaluates multiple land options across the state.

The proposed plant, one of JSL's biggest expansion projects, will have an annual production capacity of 4 million tonnes and significantly expand the company's manufacturing footprint in India.

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Jindal Stainless CEO Tarun Khulbe said the process of identifying suitable land is progressing, although it is taking some time.

"There will be clarity, maybe in another one or two quarters," Khulbe said, adding that the company is considering several land options in Maharashtra.

Once the site is finalised, JSL is expected to provide further details about the investment and execution plans.

Phased Expansion

The proposed stainless steel facility will be developed in phases, with the first phase expected to become operational within the next four years.

The Rs 40,000-crore investment is expected to substantially increase JSL's production capacity and support growing demand for stainless steel across traditional and emerging industries.

Specialised Steel

Apart from conventional stainless steel products, the Maharashtra facility will manufacture specialised grades required for critical and high-growth applications.

These products will cater to sectors including hydrogen, nuclear energy, defence, mobility, infrastructure and process industries, according to the company.

State Support

The Maharashtra government is expected to facilitate the project by expediting permissions, registrations, approvals and clearances required from various state departments.

The company has also said the project will receive applicable fiscal incentives from the state.

Capacity Boost

Jindal Stainless currently has a combined manufacturing capacity of 3 million tonnes per annum across its plants in Hisar, Haryana, and Jajpur, Odisha.

Once the proposed Maharashtra facility reaches its planned 4-million-tonne capacity, JSL's total stainless steel manufacturing capacity in India will increase to 7 million tonnes annually.