Jindal Stainless to Expand Coin Blank Capacity by 20% to 12,000 Tonnes at Hisar Plant
Jindal Stainless is enhancing its annual capacity of coin blanks by 20% to 12,000 tonnes, up from the current 10,000 tonnes, as the company anticipates growth in demand for non-paper based currency across various geographies. Coin blanks are produced at the company's Special Products Division (SPD) in Hisar under high-security arrangements, alongside other high-end finished products such as razor blades and precision strips.
The company supplies unstamped coin blanks to the Indian Mint as well as international mints including those of France, Finland, Poland, the Netherlands, the UK's Royal Mint, Malaysia and Slovakia. Production is customised according to exact specifications provided by each mint, including size, diameter, thickness, shape, and alloy composition.
Vijay Bindlish, Unit Head of the Jindal Stainless Hisar facility, said the company is aiming for more orders from across the world as demand rises due to the lower carbon footprint of stainless steel manufacturing, and is expecting work orders for denominations it does not currently manufacture, while also looking to enter new markets.
The SPD also dominates the global razor blade market with a 60-70% share, producing 19,500 tonnes annually after a recent capacity increase from 13,200 tonnes, supplying countries including India, Poland, Vietnam, China and South Korea.
The 0.8 million tonne Hisar facility, one of the oldest industrial setups in Haryana, began carbon steel production in 1970 before shifting to stainless steel manufacturing in 1978. The plant operates a zero liquid discharge system, recovering and reusing processed water and acids internally. The facility is also increasing its green energy usage to 80% this year, up from 70%, supported by two captive hydrogen projects and a floating solar project.