India’s Jindal Stainless Limited (JSL) has commenced construction of a stainless steel park at Jajpur in the eastern state of Odisha, a company statement said on Tuesday, December 6.
The company said that the stainless steel park is being constructed entailing an investment of $185 million and will be completed in two phases over the next six years. It will provide a complete ecosystem for the stainless steel industry including 100 downstream processing and value-added industrial units.
The park spread across 271 acres will act as an extension of JSL’s steel mills at Jajpur, offering a seamless flow of raw material to finished products through a network of highways, renewable energy sources, water, and skilled manpower, the company said.
The industrial park will help increase the company’s presence in several consumer segments such as automotive, architecture, building and construction, pipes and tubes, industrial goods, consumer goods, lifestyle, kitchenware, and urban furniture.
JSL is the country largest stainless steel producer with an installed capacity of 1.9 million mt across two mills at Jajpur and Hisar. It has already announced that it is increasing the capacity of the Jajpur mill taking its aggregate melting capacity to 2.9 million mt per year.