Jindal Stainless to Identify Site for ₹40,000 Crore, 4 MTPA Stainless Steel Plant in Maharashtra Within Two Quarters
Jindal Stainless is in the process of identifying a site for its proposed ₹40,000 crore stainless steel manufacturing facility in Maharashtra, the company's CEO Tarun Khulbe said. The company is evaluating several land options across the state, with Khulbe noting that clarity on the site is expected in another one or two quarters, after which the company will lay out further investment and execution plans.
According to the company, the proposed facility will have a total capacity of 4 million tonnes per annum and will be constructed in phases, with the first phase expected to become operational within the next four years. Beyond conventional stainless steel products, the Maharashtra facility will manufacture specialised steel grades for critical applications in emerging sectors including hydrogen, nuclear energy, defence, mobility, infrastructure, and process industries.
The Maharashtra government is expected to support the investment by expediting the necessary permissions, registrations, approvals, clearances, and fiscal incentives from relevant state departments. Jindal Stainless is currently India's largest stainless steel manufacturer, with a combined capacity of 3 million tonnes per annum across its two plants in Hisar, Haryana, and Jajpur, Odisha. Once the Maharashtra facility becomes operational, it will take the company's overall manufacturing capacity in India to 7 MTPA.