Steel Authority of India Limited (SAIL) has signed a Memorandum of Understanding (MoU) with Pt Karatau Steel (Persero), to explore the possibility of manufacturing stainless steel slabs in Indonesia.
The collaboration will combine Persero’s access to Indonesian nickel reserves and SAIL’s experience in steelmaking and project execution.
Dr. Ashor Kumar Panda, Chairman of SAIL, said: “This partnership reflects SAIL's commitment to looking beyond conventional boundaries and building capabilities for the future.
"As demand for stainless steel continues to grow across sectors such as infrastructure, mobility, renewable energy and manufacturing, access to reliable raw materials and strategic partnerships becomes increasingly important.
“We believe this collaboration with PT Krakatau Steel has the potential to create long-term value for both companies while strengthening the economic partnership between India and Indonesia.”
As well as meeting increasing demand, the project is expected to open new avenues for technology exchange, industrial collaboration, and skill development.
Further details will be published once feasibility studies and receipt of the necessary approvals have been completed.
The MoU was announced during the engagements between the two governments, earlier this month, as part of PM Shri Narendra Modi’s visit to Indonesia.
Dr. Panda added: “For SAIL, this initiative is not only about expanding into the stainless steel value chain. It is about building resilient supply chains, enhancing resource security and supporting India's vision of becoming a globally competitive steel producer under the Atmanirbhar Bharat initiative.”
