Jindal Stainless has restarted manufacturing facility in Hisar, Haryana and ferroalloy plant in Vizag, Andhra Pradesh. These plants were closed on March 25 in compliance with the Indian government’s COVID-19 restrictions.
Production would resume at Hisar plant in a phased manner. Jindal Stainless plans to ramp up operations in line with the demand situation. The company has adopted the safety measures prescribed by the Ministry of Home Affairs to ensure safe working conditions for all stakeholders.
Jindal Stainless (Hisar) is an integrated steel plant with an annual capacity of 800,000mt. In Q3 FY2020, the company’s sales volume was 156,293mt. Jindal Stainless faced stiff competition from low-priced imports into India from the Free Trade Agreement (FTA) countries, particularly Asian countries. From April to December 2019, India’s stainless steel imports from FTA countries was at 419,668mt, a surge of 110pc, which pushed down the price of stainless less in the market and hurt the margins of domestic steelmakers.