Shares of Jindal Stainless Ltd ended 1% higher after touching a day’s high of Rs 793 on 15th October. This occurred as the company announced an investment of $150 million to build and operate a new wet milling plant in Jajpur, Odisha. The plant is aimed at doubling its capacity to recover metal from industrial waste.

The steelmaker has signed a 15-year partnership with Harsco Environmental to build and operate the new plant.

The company stated that the facility will recover valuable metals from slag over the course of the agreement period. Thus, effectively recouping its investment.

This project will help reduce waste, conserve natural resources, and create around 140 new jobs in the region.

Managing Director Abhyuday Jindal said the company aims to expand responsibly, focusing on sustainable and eco-friendly growth. He added that the new wet milling plant will improve metal recovery, enhance waste management, and support local communities.

The initiative is part of Jindal Stainless’ long-term ESG goals and its target to achieve Net Zero by 2050.

In FY25, the company cut its carbon footprint by 14% through several green initiatives. These include India’s first green hydrogen plant for stainless steel production and the largest captive solar energy facility in a single industrial campus in Odisha.

At 3:30 PM, the shares of Jindal Stainless Ltd ended 1.06% higher at Rs 783.80 on NSE.

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