Jindal Stainless Ltd (JSL) plans to invest Rs 40,000 crore in Maharashtra to establish a stainless steel manufacturing facility, thereby enhancing its footprint in the country. Responding to a query, JSL confirmed that it has presented an investment proposal to the Maharashtra government, which has received approval during a meeting of the state cabinet subcommittee. This meeting was led by Deputy Chief Ministers Eknath Shinde and Ajit Pawar, along with other prominent leaders.
The proposal, which entails an estimated investment of Rs 40,000 crore, is set to be implemented over the next decade and is anticipated to generate over 15,000 job opportunities.
The proposed stainless steel facility will have a total melting capacity of 4 million tonnes per annum and will be developed in stages, with the initial phase anticipated to commence operations within the next four years.
JSL Chairman Ratan Jindal said, “Our proposal to invest in Maharashtra reflects our commitment towards making India Atmanirbhar in stainless steel production and reducing our dependence on imports.This new facility will enhance our footprint both in India and globally, establish new standards in technology, sustainability, and product quality, and support emerging industries vital to India’s future growth.”
This facility is set to produce a wide array of stainless steel flat products, available in different grades, finishes, and thicknesses, catering to various established industries.It will also produce specialised grades for critical applications in emerging sectors such as hydrogen, nuclear energy, defence, mobility, infrastructure, and process industries.
The Maharashtra government will facilitate the proposed investment by streamlining the acquisition of necessary permissions, registrations, approvals, clearances, and financial incentives from the appropriate state departments.
