Jindal Stainless invests $150 mn to double slag processing capacity

Jindal Stainless on Wednesday said it is investing $ 150 million (around Rs 1,300 crore) to double its annual slag processing capacity to 0.72 million tonnes to help meet long-term circularity goals.

As part of the investment, the company will set up its second wet milling plant of the same capacity of 0.36 million tonnes (MT) at its Jajpur unit in Odisha by October 2026.

The byproduct or slag of stainless steel production is processed at wet milling plants to recover metal.

"The initiative will support the company's long-term circularity goals by recovering metal from industrial waste and conserving natural resources. It will also create approximately 140 new jobs in the region," Jindal Stainless said in a statement.

Jindal Stainless is committing to a spend of $ 150 million to build and operate the plant under a 15-year partnership with Harsco Environmental, further strengthening the long-standing collaboration between the two companies in advancing circular operations.

Over the agreement period, this plant will pay back the equivalent value through metal recovery from slag.

Jindal Stainless Managing Director Abhyuday Jindal said, "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".

"The 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."  Jindal Stainless, which is India's largest stainless steel player, is in the process of ramping up its facilities to reach 4.2 million tonnes of annual melt capacity by FY27.