Jindal Stainless set to purchase 49% stake in New Yaking

Jindal Stainless set to purchase 49% stake in New Yaking

Key Points of Jindal Stainless Stake Purchase in Yaking:

  • Jindal Stainless is planning to invest $157 million in a Nickel Pig Iron (NPI) smelter facility in Indonesia.
  • The investment is part of the company’s strategic move to ensure long-term availability of nickel.
  • Jindal Stainless will acquire a 49% equity interest in New Yaking Pte. Ltd. as part of the collaboration agreement.
  • The smelter facility is expected to have an annual production capacity of up to 200,000 metric tonnes of NPI.
  • The commissioning of the smelter facility is anticipated in two years.
  • The investment is expected to strengthen Jindal Stainless’ position in the market and further enhance its growth trajectory.
  • The investment is a significant milestone for Jindal Stainless and is expected to have a positive impact on the Indonesian economy, providing job opportunities and contributing to the overall economic growth of the region.

Details of Jindal Stainless Stake Purchase in Yaking:

Jindal Stainless to Invest $157 Million in NPI Smelter Facility in Indonesia

Jindal Stainless, a leading stainless steel manufacturer, has recently announced its plans to acquire a 49% equity interest in New Yaking Pte. Ltd. for a deal value of $157 million. The acquisition is part of the company’s strategic move to ensure long-term availability of nickel.

As per the collaboration agreement, Jindal Stainless will invest in the development, construction, and operation of a Nickel Pig Iron (NPI) smelter facility located in an industrial park in Halmahera Islands, Indonesia. The smelter facility is expected to have an annual nameplate production capacity of up to 200,000 metric tonnes of NPI, and the commissioning is anticipated in two years.

Abhyuday Jindal, Managing Director of the company, said, “This acquisition will give JSL a sharper competitive advantage in Indian and international markets.” The move is expected to strengthen Jindal Stainless’ position in the market and further enhance its growth trajectory.

The NPI smelter facility investment in Indonesia is a significant milestone for Jindal Stainless, and it reflects the company’s commitment to sustainable growth and development. The move is also expected to have a positive impact on the Indonesian economy, providing job opportunities and contributing to the overall economic growth of the region.

In conclusion, the investment in the NPI smelter facility is a strategic move that will enable Jindal Stainless to secure its long-term supply of nickel and gain a competitive edge in the Indian and international markets. With the commissioning of the smelter facility in two years, the company is poised for sustainable growth and development.

About Jindal Steel:

Jindal Stainless is the foremost manufacturer of stainless steel products in India. We offer a wide range of products, including stainless steel slabs, blooms, coils, plates, sheets, precision strips, blade steel, and coin blanks in various grades, such as 200, 300, 400, and duplex stainless steel.

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