Jindal Stainless Eyes ₹40,000 Cr Investment in Maharashtra, In Talks for Land

Jindal Stainless has considered an offer of ₹40,000 crore to establish a stainless steel plant in Maharashtra, Managing Director Abhyuday Jindal said.

Citing PTI, Jindal said that the company is in the late stages of talks with the government of Maharashtra to start the land acquisition process for the project “We are committed to investing.”. Now, we are negotiating with the state government on land acquisition,” he added further.

The new facility is subject to a Memorandum of Understanding (MoU) signed in March 2025 between the Maharashtra state government and Jindal Stainless. This, if executed, would be among the biggest industrial investments ever in the state.

Now, Jindal Stainless has two large units in Hisar (Haryana) and Jajpur (Odisha) with a total installed capacity of 3 million tonnes per annum (MTPA). The group also plans to double its overall capacity to 4.2 MTPA in FY27 under its expansion strategy.

The board sanctioned the capex of ₹2,700 crores in FY26 along with ₹1,000 crore carryforward of FY25.

Such investment is in accord with Jindal Stainless’ strategy to develop its capacity and capitalize on increased domestic as well as export-led demand in automobile, construction, and infrastructure among others.

The move also runs counter to enhanced investor confidence in Maharashtra’s industrial ecosystem due to government action as a promise of high-scale production opportunities.