https://sputniknews.in/20260708/indian-indonesian-firms-to-explore-stainless-steel-production-joint-venture-11566039.html
Indian, Indonesian Firms to Explore Stainless Steel Production Joint Venture
Indian, Indonesian Firms to Explore Stainless Steel Production Joint Venture
Sputnik India
India and Indonesia signed a series of Memorandum of Understandings (MoUs) during Indian Prime Minister Narendra Modi's visit to Indonesia from July 6-8... 08.07.2026, Sputnik India
2026-07-08T17:23+0530
2026-07-08T17:23+0530
2026-07-08T17:23+0530
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India's state-run Steel Authority of India Ltd (SAIL) and Indonesian firm PT Krakatau Steel have entered into a partnership, exploring the possibility of setting up a co-owned production unit for stainless steel labs, in a bid to support the commodity's rising demand in India and the ASEAN region, the Indian company said on Wednesday.Indonesia holds the largest reserves of nickel on the planet. Nickel is an essential commodity for stainless steelmaking. On the other hand, SAIL, one of the top-20 global crude steel producers, has a rich experience of over five decades in steel manufacturing and operating large integrated steel plants. According to SAIL, the proposed joint venture also opens new avenues for technology exchange, industrial collaboration, skill development, and sustainable economic growth for both countries.
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Indian, Indonesian Firms to Explore Stainless Steel Production Joint Venture
India and Indonesia signed a series of Memorandum of Understandings (MoUs) during Indian Prime Minister Narendra Modi's visit to Indonesia from July 6-8, including on critical minerals, emerging technologies, stainless steel manufacturing and defence cooperation, amongst others.
India's state-run Steel Authority of India Ltd (SAIL) and Indonesian firm PT Krakatau Steel have entered into a partnership, exploring the possibility of setting up a co-owned production unit for stainless steel labs, in a bid to support the commodity's rising demand in India and the ASEAN region, the Indian company said on Wednesday.
"This MoU marks an important step in the growing industrial partnership between India and Indonesia reflecting the shared vision of both countries to build stronger and more resilient manufacturing value chains," SAIL's statement read.
Indonesia holds the largest reserves of nickel on the planet. Nickel is an essential commodity for stainless steelmaking. On the other hand, SAIL, one of the top-20 global crude steel producers, has a rich experience of over five decades in steel manufacturing and
operating large integrated steel plants.
According to SAIL, the proposed joint venture also opens new avenues for technology exchange, industrial collaboration, skill development, and sustainable economic growth for both countries.
