Jindal Stainless plans to increase its annual capacity for producing coin blanks by 20 percent, raising it to 12,000 tons. This decision was made in response to the projected growth in demand for non-paper currency across various regions of the world, according to a senior company official.
Vijay Bindlish, head of the Jindal Stainless Hisar division, noted that the company manufactures coin blanks for both the Indian Mint and several international mints. These blanks are produced in the Specialized Product Division (SPD) of the country's largest stainless steel manufacturer, located in Hisar, and are manufactured under high security conditions.
Bindlish also stated that the company supplies unminted coins to the Royal Mint of the United Kingdom, as well as to the mints of India, France, Finland, Poland, the Netherlands, Malaysia, and Slovakia. Production is adapted to the precise requirements of the mints, including alloy composition, thickness, diameter, and shape.
Speaking about development plans, Bindlish emphasized that the company aims to secure more orders from around the world due to the growing demand driven by the lower carbon footprint provided by stainless steel production. The company expects orders for denominations it currently does not produce and is considering entering new markets. This is why the coin blank production capacity is being increased from the current 10,000 tons to 12,000 tons.
Saurab Kumar, head of SPD, added that this division holds a dominant position in the global market with a 60–70 percent share, producing 19,500 tons of razor blades annually after a recent increase from 13,200 tons. These blades are supplied to countries such as India, Poland, Vietnam, China, and South Korea, and the company intends to maintain its market leadership.
The Jindal Stainless facility in Hisar, with a capacity of 0.8 million tons, is one of the oldest industrial complexes in Haryana. It began producing carbon steel in 1970 and later switched to stainless steel production in 1978 to reduce dependence on imports. Sushil Jain, head of the cold rolling department, explained that the plant uses a zero liquid discharge system, where treated water and acids are recovered, purified, and reused internally, eliminating industrial wastewater.
Furthermore, the plant plans to increase its use of green energy to 80 percent this year compared to 70 percent. This is achieved through two proprietary hydrogen projects and a floating solar power plant project.