Jindal Stainless (JSL), India’s largest stainless-steel manufacturer, has plans to make a Rs 40,000-crore investment in Maharashtra and is currently in talks with the state government to acquire land for the proposed plant.

“We are very serious about the investment. Currently, we are in discussions with the state government for acquisition of land,” Managing Director, JSL, Abhyuday Jindal said. At present, JSL operates two main plants in Hisar, Haryana and Jajpur, Odisha, with a combined capacity of three million tonne annually. It plans to ramp up this capacity to 4.2 million tonne by FY27. The capex for FY26 is set at Rs 2,700 crore, which includes a Rs 1,000 crore spillover from FY25, where the capex fell short of its Rs 5,500 crore target. 

The new stainless-steel facility, approved by Maharashtra’s Cabinet subcommittee, will have a total melting capacity of four MTPA and will be built in phases. The first phase is expected to be operational within four years, while the entire project will span over the next 10 years. It is projected to create over 15,000 employment and support sectors such as hydrogen, nuclear energy, defence, mobility, infrastructure, and process industries.

JSL intends to remain export-focused, especially on the US and European markets. The Maharashtra government is set to support the investment by facilitating approvals, clearances, registrations, and financial incentives.