Steel Authority of India Limited (SAIL) and Indonesia’s Krakatau Steel are planning to invest up to $350 million in a new stainless steel slab manufacturing plant in Indonesia.The proposed joint venture facility will have an annual production capacity of 500,000 metric tonnes and is expected to begin operations within three to four years. The companies recently signed a preliminary agreement to establish the plant as part of growing India–Indonesia cooperation in the steel sector.

SAIL is expected to send a technical team to Indonesia to prepare a feasibility report. The partners will then finalise the joint venture’s ownership structure, project timeline and required government approvals. The facility may also be expanded after operations begin.

SAIL plans to purchase the plant’s entire stainless steel slab output and transport it to its Salem Steel Plant in Tamil Nadu for rolling and finishing. Most finished products will serve Indian customers, while a smaller share could be exported to markets in the Middle East and Europe.The project could strengthen SAIL’s stainless steel supply chain, support rising domestic demand and expand India’s presence in the global value-added steel market.