State-owned Steel Authority of India Limited (SAIL) and Indonesia’s PT Krakatau Steel are exploring a joint venture to manufacture stainless steel slabs, according to multiple reports citing people familiar with the plans. The companies sign a memorandum of understanding (MoU) to examine cooperation aimed at meeting growing demand for stainless steel in India. The proposed project is discussed in capacity ranges, with plans under review including 500,000 tonnes to 1 million tonnes per year, depending on what the parties determine during feasibility work. Reporting indicates that the stainless steel slabs, if the venture proceeds, would be produced in Indonesia and then supplied to SAIL’s Salem Steel Plant (SSP) in Andhra Pradesh, which makes several grades of stainless steel. One report notes that the exact investment and capacity plans are not yet final and are to be finalised after feasibility studies and the formation of the proposed JV. The timelines and ultimate decision on whether the project will proceed are linked to the outcomes of the assessment work following the MoU.
SAIL and Krakatau Steel explore joint venture for up to 1 million tonnes stainless slabs
State-owned Steel Authority of India Limited (SAIL) and Indonesia’s PT Krakatau Steel are exploring a joint venture to manufacture stainless steel slabs, according to multiple reports citing people fa...
- SAIL and PT Krakatau Steel sign an MoU to explore a stainless steel joint venture.
- The proposed project capacity is discussed in the range of 500,000 tonnes to 1 million tonnes.
- Feasibility studies and JV formation are needed before capacity and investment plans are finalised.
- If formed, the venture would produce stainless steel slabs in Indonesia.
- The slabs would be supplied to SAIL’s Salem Steel Plant in Andhra Pradesh.
SAIL and Indonesia-based PT Krakatau Steel, which have signed an MoU to set up a joint venture, are exploring a stainless steel project with a capacity of 500,000 tonnes to 1 million tonnes under the proposed JV, a source with direct knowledge of the plans said. Earlier this week, the steel PSU and the Indonesian entity signed a memorandum of understanding to explore a joint venture to manufacture stainless steel slabs to meet the commodity's increasing demand in India. "SAIL and PT Krakatau Steel would explore setting up a stainless steel project. It can be of 0.5 million tonnes (MT) capacity, or it can also be of 1 MT. But that will be discussed after the formation of a joint venture," the source said. If the JV is formed, the slabs will be produced in Indonesia and supplied to SAIL's Salem Steel Plant (SSP) in Andhra Pradesh, which specialises in the production of austenitic, ferritic, martensitic and low-nickel stainless steels, catering to diverse sectors including nuclear, ...
6 hours agoCapacity and investment plans will be finalised after feasibility studies and the formation of the proposed joint venture.
7 hours ago
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