Crucial for India to secure its nickel needs, says Jindal Stainless MD

Firm's MD Abhyuday Jindal says next milestone after completing expansion would be to achieve 100% capacity utilisation, after which it may look at backward integration

Jindal Stainless may look at backward integration with a major capacity expansion underway that would place it among the top five stainless steel makers in the world.

The firm has units at Jajpur, Odisha, under Jindal Stainless Ltd and in Hisar, Haryana under Jindal Stainless (Hisar). The merger of the two companies is under process and is likely to be completed by the end of the financial year, as is the capacity expansion to 2.9 million tonnes (mt).

The twin move would help Jindal Stainless scale up to the top-5 spot globally. The combined entity before the capacity expansion would