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Business News›Industry›Ind'l Goods/Svs›Steel›Jindal Stainless expanding coin blanks manufacturing capacity by 20% to meet demand

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Jindal Stainless expanding coin blanks manufacturing capacity by 20% to meet demand
Synopsis

Jindal Stainless is set to boost its annual coin blank production by twenty percent, responding to the escalating worldwide demand for non-paper currency options. The company caters to both Indian and international mints, firmly establishing its presence. Additionally, Jindal Stainless leads in the global razor blade sector with impressive yearly outputs. Environmental sustainability remains a focus at the Hisar facility, employing water recovery techniques and green energy innovations.

PTI

Hisar: Jindal Stainless is enhancing its annual capacity of coin blanks by 20 per cent to 12,000 tonnes as the company anticipates growth in demand for non-paper based currency across various geographies, a senior company official said.



"Many would not know that we manufacture coins blanks for Indian as well as various international mints," Vijay Bindlish, the Unit Head of Jindal Stainless Hisar facility said in a joint management interaction.



Coin blanks are produced at the country's largest stainless steel maker's Special Products Division (SPD) in Hisar under high security arrangements, along with other high-end finished products such as razor blades and precision strips, the official told PTI.

For this, the company is increasing coin blank making capacity to 12,000 tonne from the current 10,000 tonne, he said.



Saurabh Kumar, head of the SPD, added that the division dominates the global market with a 60-70 per cent share, producing 19,500 tonnes of razor blades annually after a recent increase from 13,200 tonnes. These blades are supplied to countries such as India, Poland, Vietnam, China, and South Korea, and the company intends to maintain its market leadership.



The 0.8 million tonne (MT) Hisar facility of Jindal Stainless is one of the oldest industrial setups in Haryana, which started carbon steel production in 1970 and shifted to stainless steel making in 1978 to curb import dependence.



Sushil Jain, head of the cold rolling division, explained that the facility operates a zero liquid discharge system where processed water and acids are recovered, treated, and reused internally with zero industrial effluent.



Furthermore, the plant is increasing its green energy usage to 80 per cent this year, up from 70 per cent, supported by two captive hydrogen projects and a floating solar project, he said.

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