Jindal Stainless signs a landmark MoU with the Government of Maharashtra at AIIFA Steelex 2025 in Mumbai. The company will set up a 4 MTPA stainless steel plant in Raigad with an investment of Rs 41,580 crore. Shashibhushan Upadhyay, Chief Business Officer at Jindal Stainless, signed the MoU.

The project will create more than 15,500 jobs and boost Maharashtra’s industrial growth. Chief Minister Devendra Fadnavis, Union Minister Pralhad Joshi, and Industries Minister Uday Samant joined the signing ceremony. Their presence underlined the scale and importance of this investment for both the state and the country.

Union Minister of Coal and Mines, Shri Pralhad Joshi, also addressed the inaugural session of AIIFA Steelex 2025. The event included the 37th National Conference on Sustainable Steel, which gathered leaders from across the sector. Moreover, AIIFA organised the conference with support from SMAM, the Ministry of Steel, and the United Nations Development Programme.

AIIFA, headquartered in New Delhi, plays a key role in shaping the industry’s future. It connects government bodies with industry stakeholders and has twelve regional chapters across India’s major industrial hubs. Furthermore, AIIFA promotes policy advocacy, helps roll out government schemes, and leads R&D collaborations with ministries and institutions.

The Raigad facility will enhance Jindal Stainless’ production strength and meet rising demand in infrastructure, automotive, and industrial sectors. Moreover, the project aligns with India’s vision of self-reliance while encouraging sustainable growth and innovation.

India’s largest stainless steel producer, Jindal Stainless, reported a consolidated turnover of Rs 40,182 crore (US $4.75 billion) in FY25. The company is expanding its annual melt capacity to 4.2 million tonnes by FY27. In addition, it operates sixteen facilities in India and abroad, including units in Spain and Indonesia, with a network in twelve countries.

With this step, Jindal Stainless has reinforced its leadership in stainless steel. Above all, the project promises growth, and opportunity for Maharashtra and beyond.