Indias Jindalei fully acquires Sulawesi nickel processing and will build a stainless steel steelmaking plant in Indonesia-Zhejiang Benji Stainless Steel Co., Ltd

According to New Delhi Television (NDTV) on June 28, 2024, Indias Jindal Stainless Ltd. announced on Friday that it has completed its acquisition of Sulawesi Nickel Processing Industries Holdings Pte in Singapore. This will help establish a joint venture in Indonesia aimed at investing, developing, constructing, and operating a stainless steel smelting plant.
"In this regard, we would like to further inform you that the company has completed the acquisition of 100% equity in SNPIHPL on June 28, 2024, making it a wholly-owned subsidiary of the company," the company announced in an exchange document.
As early as May 1st, Abhyuday Jindal, Managing Director of Indias Jindal, stated in an exchange document, "The Indonesian joint venture will bring us the best speed and raw material safety, and the expansion of the Jajpur production line will provide higher value for domestic and export customers."

Zhejiang Benji Stainless Steel Co., Ltd.,