# Jindal Stainless to invest Rs 5,400 crore in capacity expansion and acquisitions

Jindal Stainless Ltd announced a Rs 5,400 crore investment plan including: Rs 3,350 crore for downstream expansion and infrastructure at Jajpur, Odisha; Rs 700 crore for a 49% stake in a stainless steel melt shop JV in Indonesia (1.2 MTPA); and Rs 1,340 crore for a 54% stake in Chromeni Steels Pvt Ltd (0.6 MTPA cold rolling mill in Mundra, Gujarat).

- Type: Investment
- Announced: 2024-05-01
- Where: Jajpur, Odisha; Mundra, Gujarat; Indonesia, India
- Value: $648.0M (54.0B INR)
- Status: announced
- Capacity: 1.2 MTPA (Indonesia JV); 0.6 MTPA (Chromeni cold rolling mill); total melting capacity to 4.2 MTPA
- Products: stainless steel
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Jindal Stainless](https://endata.com/companies/67512.md)
- [Chromeni Steels Pvt Ltd](https://endata.com/companies/77169.md) (target)

## Sources

- [ndtvprofit.com](https://www.ndtvprofit.com/business/jindal-stainless-to-invest-rs-5400-crore-in-acquisitions-capacity-expansion-9999905), 2024-05-01: "The Indonesian JV will get us the best of speed and raw material security, and the augmentation of the Jajpur lines will offer enhanced value for domestic and export customers."
- [timesofindia.indiatimes.com](https://timesofindia.indiatimes.com/business/india-business/jindal-stainless-to-invest-rs-5400-crore-to-expand-capacity-to-4-2-mt-abhyuday-jindal/articleshow/109756741.cms), 2024-05-01: "This will increase the company's melting capacity by over 40% to 4.2 MTPA at an investment of more than Rs 700 crore."
- [indianeconomicobserver.com](https://www.indianeconomicobserver.com/news/jindal-stainless-announces-rs-5400-crore-strategic-investments-aimed-at-expanding-capacity20240501184828/), 2024-05-01: "The Indonesian joint venture will get us the best of speed and raw material security, and the augmentation of the Jajpur lines will offer enhanced value for domestic and export customers."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.