Jindal Stainless to Invest $150 million in expanding slag processing capacity, strengthens circular production push

New Delhi [India] October 15 (ANI): In a major stride towards sustainable steelmaking, Jindal Stainless has announced an investment of USD 150 million to double its slag processing capacity at its Jajpur, Odisha unit. The new wet milling plant, being developed in collaboration with Harsco Environmental, marks a significant step in the company commitment to circular production and natural resource conservation.

Under a 15-year partnership, the project aims to recover valuable metal from industrial waste, enhancing both operational efficiency and environmental responsibility. The initiative is expected to generate around 140 new jobs in the region while advancing the company long-term Environmental, Social and Governance (ESG) goals.

Commenting on the development, Abhyuday Jindal, Managing Director of Jindal Stainless, said the expansion aligns with the firm commitment to responsible growth.

As we expand capacity to meet the rising stainless steel demand in India and globally, our focus remains strongly on doing so responsibly and in an environmentally conscious way, he said. The upcoming wet milling plant, with its benchmark metal recovery and waste management, will enable gainful utilisation of slag and create new opportunities for the communities where we operate, he added.

The partnership will also make Jajpur the first site in India to host two wet milling plants, deepening the decade-long collaboration between Jindal Stainless and Harsco Environmental.

Manjunath Raghavelu, Managing Director, India & MEA, Harsco Environmental, said, This partnership deepens our decade-long collaboration and marks Jajpur as the first site in India with two wet milling plants. Together, we will enhance our focus on the circular economy and slag utilization, reinforcing our commitment to sustainability.

As part of its broader Net Zero 2050 roadmap, Jindal Stainless reported a 14 per cent reduction in carbon footprint in FY25, backed by initiatives such as India first green hydrogen plant for stainless steel production and the largest captive solar facility within a single industrial campus in Odisha.

With an annual turnover of USD 4.75 billion (Rs 40,182 crore) in FY25, Jindal Stainless is gearing up to reach 4.2 million tonnes of melt capacity by FY27, underscoring its aggressive expansion plans both in India and globally. (ANI)

Disclaimer: This news article is a direct feed from ANI and has not been edited by the News Nation team. The news agency is solely responsible for its content.