The Indian company Jindal Stainless Limited (JSL) has begun the process of finding suitable land in the western state of Maharashtra for the construction of a new plant worth $4.20 billion, a company representative said on Monday, August 10.
"It will take some time, but we are moving forward in the right direction to secure the necessary land for the project," said JSL CEO Tarun Хульбе.
"The land issue will be clarified in the next two quarters," he added.
According to the company, the proposed stainless steel facility with a total capacity of 4 million tons/year will be built in several stages, with the first stage expected to become operational within the next four years.
JSL also produces special grades of steel for applications in emerging sectors such as hydrogen, nuclear energy, protection, mobility, infrastructure and manufacturing.
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