JSL's Ambitious Growth Plan: A New ₹40,000 Crore Plant in Maharashtra

Jindal Stainless (JSL), India’s largest stainless-steel producer, is planning a ₹40,000-crore investment in Maharashtra and is currently in talks with the state government for land acquisition.

“We are very serious about the investment. Currently, we are in discussions with the state government for acquisition of land,” said Abhyuday Jindal, Managing Director of JSL.

The company currently operates two major plants in Hisar (Haryana) and Jajpur (Odisha), with a combined annual capacity of 3 million tonnes. It aims to increase this to 4.2 million tonnes by FY27. For FY26, JSL has allocated ₹2,700 crore in capital expenditure, which includes a ₹1,000 crore spillover from FY25, where spending fell short of its ₹5,500 crore target.

The new stainless-steel facility, already approved by Maharashtra’s Cabinet subcommittee, will have a total melting capacity of 4 million tonnes per annum (MTPA) and will be developed in phases. The first phase is expected to become operational within four years, with full completion projected over the next decade. The project is expected to generate over 15,000 jobs and cater to key sectors such as hydrogen, nuclear energy, defence, mobility, infrastructure, and process industries.

JSL will continue to focus on exports, particularly to the US and Europe. The Maharashtra government is expected to support the project through streamlined approvals, registrations, and financial incentives.

News by Rahul Yelligetti.