Jindal in tech pact with Japan's Nisshin Steel

Jindal Stainless Ltd, an OP Jindal firm and the country's largest stainless steel company, today announced a technological collaboration with Nisshin Steel, Japan, the world's ninth largest stainless steel producer.

"The process technology of Nisshin would be used in the full stainless steel production stages starting from steel melting, rolled strips and plates," N C Mathur, director, international marketing, Jindal Stainless, said at a press conference here.

However, Nisshin would not take a stake in the Indian company, Arvind Parikh, chief financial officer, Jindal Stainless, said.

The fees for the services is about Rs 20 crore, Mathur said.

The technology transfer would help Jindal Stainless improve its yield and quality of products, he said.

At present, Jindal Stainless produces five lakh tonnes of stainless steel per annum.

A greenfield project of the company in Sukhinda, Orissa, would add to its capacity another eight lakh tonnes by 2006 and another 0.8 million tonnes by 2009.

The demand for stainless steel in the high-end products in construction and transportation is expected to grow by 7-8 per cent in the next three to four years, Mathur said.

Jindal Stainless has also decided to produce etching stainless steel at its architectural division in Delhi which are used in high-end construction and transport segments like claddings in lifts, airports and metro rail coaches, Mathur said.