- MoU signed on minerals and steel supply chain technology
- SAIL, Krakatau Steel to study stainless steel slab manufacturing project
India and Indonesia have signed a Memorandum of Understanding (MoU) to enhance cooperation in the minerals sector and steel supply chain technology, marking a significant step towards strengthening bilateral ties in the metals and stainless steel industry.
The agreement was signed during Prime Minister Narendra Modi’s official visit to Indonesia and forms part of a broader set of bilateral initiatives aimed at expanding cooperation across strategic sectors.
A key development for the stainless steel industry is the proposed strategic joint venture between Steel Authority of India Ltd. (SAIL) and Indonesia’s PT Krakatau Steel. The two companies will explore the feasibility of establishing a stainless steel slab manufacturing facility in Indonesia.
The proposed project is expected to support regional stainless steel supply chains by leveraging Indonesia’s abundant nickel resources and growing stainless steel ecosystem, while providing Indian steelmakers with improved access to raw materials and semi-finished stainless steel products.
Industry participants believe the collaboration could strengthen integration between the Indian and Indonesian stainless steel sectors, particularly as Indonesia continues to expand its downstream nickel and stainless steel production capacity. The initiative also aligns with both countries’ efforts to enhance supply chain resilience and promote value-added steel manufacturing in the region.
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