Blitz India Business
NEW DELHI: Jindal Stainless is enhancing its annual capacity of coin blanks by 20 per cent to 12,000 tonne as the company anticipates growth in demand for non-paper based currency across various geographies, a senior company official said, according to a PTI report.
“Many would not know that we manufacture coins blanks for Indian Mint 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 in Hisar under high security, along with other high-end finished products such as razor blades and precision strips, the official told PTI.
The 0.8 million tonne 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 in 1978 to curb import dependence.
Sharing details of the business, Bindlish said the company supplies unstamped coins to Indian, French, Finnish, Polish, Dutch, UK’s Royal Mint, Malaysian and Slovak mints.
Production is customised according to exact specifications provided by the mints, including size, diameter, thickness, shape, and alloy composition.
On growth plans for this business, Bindlish said, “We are aiming for more such orders from across the world as we see demand rising due to the lower carbon footprint aspect of stainless steel manufacturing. We are expecting work orders of the denominations which we are not manufacturing for them currently. Being a major player in this field, we are also looking to enter new markets.”
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 division, added that the division dominates the global market with a 60-70 per cent share, producing 19,500 tonne of razor blades annually after a recent increase from 13,200 tonne. 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 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 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.
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.