Jindal Stainless to focus on specialty sector for stainless steel
Business Standard reported that as part of its expansion strategy, Jindal Stainless is planning to enter the unconventional areas of steel use — defence, nuclear, aerospace and long products. The company wants to enter high-margin segments with the available capacity. Currently, it has a production capacity of 1.6-1.8 million tonne with a market share of 45 per cent.
Jindal Stainless vice chairman Abhyuday Jindal told Business Standard in an interview that “We want to move into the speciality steel segment, which is into defence, by supplying raw material and not manufacture equipment as such. We also want to venture into long products and aerospace.”
In March, it had signed a license agreement with Defence Research & Development Organisation (DRDO) for manufacturing high nitrogen steel (HNS) for armour applications at its Hisar plant. Jindal Stainless will commercially manufacture high nitrogen steel for the defence sector under the transfer of technology from DRDO. The use of HNS will replace the existing import of Rolled Homogenous Armour (RHA), thereby resulting in improved cost efficiency in material acquisition for armour applications by 50 per cent, the company said in a statement. High Nitrogen Steel (HNS) is corrosion resistant and provides exceptional ballistic/blast protection than the existing material at a much reduced thickness along with longevity which increases the fuel and mass efficiency.
HNS has potential application in all armoured vehicles including Infantry Combat Vehicle (ICV), Light Speciality Vehicle (LSV), Light Armoured Multipurpose Vehicle (LAMV), Futuristic Infantry Combat Vehicle (FICV), Main Battle Tank (MBT), Future Ready Combat Vehicle (FRCV), Aviation and Naval systems. JSHL is also working to produce additional variants of HNS with enhanced blast and ballistic protection to cater to niche requirements of the Indian Defence sector.