Russian production of stainless steel in 2006 was 127,400tns, which was the same as the production figure for 2000. But over the next four years, the goal is to boost production to 900,000tns annually, with Jindal Stainless’ new plant to contribute 400,000tpa to the increased output. The project will be located in Kingisepp town in the Leningrad region near Russia’s border with Estonia, about 140kms west of St. Petersburg. Construction of the plant is scheduled to take one year from final approvals, which are expected shortly. Most of the stainless steel produced at the plant will be sold in the domestic Russian market to meet fast-growing demand for the construction, shipbuilding and kitchenware sectors. The plant will be wholly owned by Jindal.
