Jindal Stainless to Invest ?40,000 Cr in Maharashtra

29 Mar 2025 CW Team

The proposed plant will feature a total melting capacity of 4 million tonnes per annum (MTPA) and is set to be constructed in phases. The initial phase is expected to become operational within the next four years. Once fully functional, the facility is projected to generate employment for over 15,000 individuals, contributing significantly to the local economy. ?

Ratan Jindal, Chairman of JSL, emphasized the strategic importance of this investment, stating, "Our proposal to invest in Maharashtra reflects our commitment towards making India Atmanirbhar in stainless steel production and reducing our dependence on imports." The new facility aims to set benchmarks in technology, sustainability, and product excellence, catering to both established and emerging industries critical to India's future development. ? Business News India

The Maharashtra government has pledged support for the project by facilitating necessary permissions, registrations, approvals, and clearances, as well as offering fiscal incentives from relevant state departments. This collaboration underscores a shared commitment to advancing industrial growth and economic development in the region. ? Business News India

This ambitious initiative aligns with JSL's broader expansion strategy. In May 2024, the company announced a ?5,400 crore investment plan to increase its melting and downstream capacities. This included a joint venture in Indonesia for a 1.2 MTPA stainless steel melt shop, expansion of downstream lines in Jajpur, Odisha, and the acquisition of a 54% equity stake in Chromeni Steels in Mundra, Gujarat. ? Jindal Stainless

Through these strategic investments, Jindal Stainless is poised to strengthen its position as a global leader in stainless steel production, driving innovation, sustainability, and economic growth in India and beyond.

Jindal Stainless Ltd (JSL) has unveiled plans to invest ?40,000 crore in establishing a stainless steel manufacturing facility in Maharashtra. The proposal, recently approved by the state's cabinet subcommittee, outlines a decade-long development strategy aimed at bolstering India's self-reliance in stainless steel production. ? The proposed plant will feature a total melting capacity of 4 million tonnes per annum (MTPA) and is set to be constructed in phases. The initial phase is expected to become operational within the next four years. Once fully functional, the facility is projected to generate employment for over 15,000 individuals, contributing significantly to the local economy. ? Ratan Jindal, Chairman of JSL, emphasized the strategic importance of this investment, stating, Our proposal to invest in Maharashtra reflects our commitment towards making India Atmanirbhar in stainless steel production and reducing our dependence on imports. The new facility aims to set benchmarks in technology, sustainability, and product excellence, catering to both established and emerging industries critical to India's future development. ? Business News India The Maharashtra government has pledged support for the project by facilitating necessary permissions, registrations, approvals, and clearances, as well as offering fiscal incentives from relevant state departments. This collaboration underscores a shared commitment to advancing industrial growth and economic development in the region. ? Business News India This ambitious initiative aligns with JSL's broader expansion strategy. In May 2024, the company announced a ?5,400 crore investment plan to increase its melting and downstream capacities. This included a joint venture in Indonesia for a 1.2 MTPA stainless steel melt shop, expansion of downstream lines in Jajpur, Odisha, and the acquisition of a 54% equity stake in Chromeni Steels in Mundra, Gujarat. ? Jindal Stainless Through these strategic investments, Jindal Stainless is poised to strengthen its position as a global leader in stainless steel production, driving innovation, sustainability, and economic growth in India and beyond.

Building Material

11 Dec 2025

Suraj Estate Wins Euromoney Award for India’s Best Residential Developer

"Suraj Estate Developers Limited has received the Euromoney Real Estate Award 2025 for ‘India’s Best Residential Developer’, positioning the company among globally benchmarked leaders in the sector. The recognition reflects its four-decade legacy in delivering high-quality residential and redevelopment-led projects across South Central Mumbai. The Euromoney Real Estate Awards, presented by the London-based Euromoney magazine, are widely regarded as one of the most credible global assessments of performance in real estate, banking and finance. Winners are selected through surveys of inte..

Building Material

11 Dec 2025

Lloyds Metals, Tata Steel Sign MoU to Explore Strategic Collaboration

"Lloyds Metals and Energy Limited has signed a non-binding Memorandum of Understanding with Tata Steel Limited to evaluate potential areas of strategic cooperation across mining, logistics, pelletisation and steelmaking. The MoU was signed by B Prabhakaran, Managing Director of Lloyds Metals, and Mr T V Narendran, CEO and Managing Director of Tata Steel. The partnership framework aims to leverage the natural operational synergies between both companies and assess opportunities in greenfield steel projects, iron ore mining, slurry pipeline infrastructure, pellet manufacturing in iron ore–ric..

Building Material

11 Dec 2025

IndiaAI, Gujarat Govt Host Regional Conclave Ahead of 2026 AI Summit

The IndiaAI Mission under the Ministry of Electronics and Information Technology, along with the Government of Gujarat and IIT Gandhinagar, convened a Regional Pre-Summit Event at Mahatma Mandir, Gandhinagar. The initiative is part of the build-up to the India–AI Impact Summit 2026, scheduled for 15–20 February 2026 at Bharat Mandapam, New Delhi. The conclave brought together senior policymakers, technology leaders, researchers and industry practitioners to examine how AI can accelerate economic, digital and social transformation across sectors. The programme focused on the overarching th..