Jindal Stainless in joint Venture (JV) with New Yaking Pte., has commissioned Nickel Pig Iron smelter facility located in an industrial park in Halmahera Islands, Indonesia, eight months ahead of the scheduled timeline.
Through this JV with New Yaking Pte., Jindal Stainless has ensured the long-term availability of nickel for stainless steel production. The company had announced a collaborative agreement with New Yaking Pte., in March 2023, wherein the company acquired a 49% equity interest for around $157 million.
Jindal Stainless (JSL) is one of the largest stainless steel conglomerates in India and ranks amongst the top 10 stainless steel conglomerates in the world.
