Jindal Stainless Limited (JSL)is in talks with the Maharashtra government to secure land worth ₹40,000 crore for establishing a plant. Managing Director Abhyuday Jindal stated that this expansion is a key step in the company’s growth, adding to its existing plants in Hisar (Haryana) and Jajpur (Odisha).
The plant will be developed in phases over the next 10 years, with the first phase expected to start production in 4 years. Once fully operational, the facility will have a production capacity of 4 million tonnes per year (MTPA). This will help JSL increase its total capacity from 3 MTPA to 4.2 MTPA by 2026-27.
The Maharashtra government has assured full support, including approvals, permits and incentives, to ensure the project is completed on time.
The new plant is expected to generate over 15,000 jobs, contributing to Maharashtra's employment landscape.
The new facility aims to produce specialised stainless steel grades catering to emerging sectors such as hydrogen energy, nuclear power, defence, mobility, infrastructure and process industries. This diversification will enhance India's self-reliance in critical materials and support the nation's broader industrial objectives.
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As of May 12, 2025, at 12:25 PM, Jindal Stainless Ltd share price is trading at ₹595.15 per share, reflecting a surge of 2.68% from the previous closing price. Over the past month, the stock has surged by 6.70%. The stock's 52-week high stands at ₹848 per share, while its low is ₹496.60 per share.
This strategic investment by Jindal Stainless Ltd not only signifies a substantial expansion of its manufacturing capabilities but also reflects a commitment to fostering economic development and technological advancement in India.
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Published on: May 12, 2025, 2:56 PM IST
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