Jindal Stainless is enhancing its annual capacity of coin blanks by 20 per cent to 12,000 tonnes as the company anticipates growth in demand for non-paper based currency across various geographies. According to reports from PTI, the expansion will increase capacity from the current 10,000 tonnes to meet rising global demand. The company supplies unstamped coins to Indian, French, Finnish, Polish, Dutch, UK's Royal Mint, Malaysian and Slovak mints, with production customised according to exact specifications including size, diameter, thickness, shape, and alloy composition. Vijay Bindlish, Unit Head of Jindal Stainless Hisar facility, confirmed that coin blanks are produced at the country's largest stainless steel maker's Special Products Division (SPD) in Hisar under high security arrangements, along with other high-end finished products such as razor blades and precision strips.
The company's Special Products Division (SPD) in Hisar dominates the global market with a 60-70 per cent share, producing 19,500 tonnes of razor blades annually after a recent increase from 13,200 tonnes. As reported by PTI, these blades are supplied to countries such as India, Poland, Vietnam, China, and South Korea. Saurabh Kumar, head of the SPD, stated that the division is aiming for more orders from across the world as demand rises due to the lower carbon footprint aspect of stainless steel manufacturing. The company is also looking to enter new markets and expects work orders of denominations it currently doesn't manufacture. Bindlish emphasized that being a major player in this field, the company is looking to enter new markets while maintaining its market leadership position.
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 making in 1978 to curb import dependence. According to PTI, the facility operates a zero liquid discharge system where processed water and acids are recovered, treated, and reused internally with zero industrial effluent. Sushil Jain, head of the cold rolling division, explained that 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. The facility produces coin blanks under high security arrangements along with other high-end finished products, ensuring the highest standards for international mints.
