Jindal Stainless, New Yaking Announce JV to Develop Nickel Pig Iron Plant in Indonesia

Jindal Stainless Limited (JSL) has signed an agreement to form Joint Venture (JV) with New Yaking Pte. Limited to develop a Nickel Pig Iron (NPI) plant in Indonesia. JSL will invest Rs. 1,290 crore in this upcoming Nickel Pig Iron facility and acquire 49% equity stake in the JV. This information was given by JSL in a stock filing dated 28th March 2023.

This NPI facility will be developed, operated and constructed under the scope of this agreement. This facility will have an annual production capacity of 2,00,000 metric tonnes of NPI with an average 14% Nickel content.

This upcoming facility will be commissioned in 2 years.