Jindal Stainless to expand coin blank capacity by 20% to meet demand

Jindal Stainless is enhancing its annual capacity of coin blanks by 20 per cent to 12,000 tonnes as the company anticipates growth in demand for non-paper based currency across various geographies, a senior company official said.

"Many would not know that we manufacture coins blanks for Indian Mint as well as various international mints," Vijay Bindlish, the Unit Head of Jindal Stainless Hisar facility said in a joint management interaction.

Coin blanks are produced at the country's largest stainless steel maker's Special Products Division (SPD) in Hisar under high security arrangements, along with other high-end finished products such as razor blades and precision strips, the official told PTI.

Sharing details of the business, Bindlish said the company supplies unstamped coins to Indian, French, Finnish, Polish, Dutch, UK's Royal Mint, Malaysian and Slovak mints.

Production is customised according to exact specifications provided by the mints, including size, diameter, thickness,