Stainless steel producers China-based Tsingshan Group and India-based Jindal Stainless have formed a joint venture PT Glory Metal Indonesia (GMI) in the Morowali Industrial Park (IMIP), in Indonesia, with an investment of $180 million, according to media reports. The plant is scheduled to commence operations in November 2025.
The plant will have two 150-tonne argon oxygen decarburization converters, a 150-t ladle furnace, a rotary kiln-electric-furnace and a continuous caster. PT Glory Metal Indonesia, which will annually produce 1.2 million mt of stainless steel, will use ferronickel sourced from local producers in the IMIP region, optimizing heat recovery and production efficiency.