Jindal Stainless is in the process of identifying a site for a proposed Rs 400 billion (bn) stainless steel manufacturing facility in Maharashtra, the company’s chief executive officer Tarun Khulbe indicated. The announcement followed discussions on land acquisition and planning for a large scale project that the firm intends to develop in phases. The company presented the investment as a strategic move to strengthen domestic stainless steel capacity for advanced applications.

The proposed facility will have a total capacity of four million tonnes per annum (mn tpa) and will be constructed in phases, with the first phase expected to be operational within four years. The plant is intended to produce specialised grades of steel for emerging sectors such as hydrogen, nuclear energy, defence, mobility, infrastructure and process industries. The company said production of higher value grades would support technology adoption across those sectors.

Khulbe noted that the site selection was taking time and that the company was progressing, adding that several land options in the state were being scouted. He indicated there should be clarity in one or two quarters, after which the company would firm up its plans and move towards acquisition and development. The timetable for permitting and construction would depend on securing suitable land and the flow of necessary approvals.

The government of Maharashtra was reported to be supportive and expected to expedite permissions, registrations, approvals, clearances and fiscal incentives through relevant state departments. Jindal Stainless currently has a combined capacity of three mn tpa at plants in Hisar and Jajpur and the new Maharashtra facility would increase overall capacity to seven mn tpa once fully operational. The expansion was framed as part of a broader strategy to meet rising demand for specialised stainless steel domestically.