Chromeni Steels Pvt Ltd stands as a significant joint venture in the stainless-steel industry, representing a collaboration between Tsingshan Industries from China and four prominent Indian business groups: Sunrise Group, Suncity Group, JP ISCON Group, and VD Group. The company’s corporate office is located in Ahmedabad, with its production plant in Mundra, Gujarat. This venture aligns with India’s “Make in India” initiative, aiming to establish India as a major stainless-steel manufacturer1.
Tsingshan Industries, established in 2003, has grown to be a leading global manufacturer of stainless-steel products, boasting a production of 10 million tons of stainless steel by the end of 2018. The Sunrise Group has a longstanding presence in the stainless-steel industry, with 40 years of experience manufacturing various products for both domestic and international markets. Suncity Group brings 25 years of experience in the stainless-steel industry and manufacturing. The JP ISCON Group is a well-known real estate developer in Gujarat and Mumbai, with interests in the food industry through their frozen food product line. VD Group has been active in the Iron & Steel Industry for a significant period and has over a decade of experience in the Diamond Industry2.
Chromeni Steels aims to achieve a production capacity of around 1 million tons per year of cold-rolled coils by December 2019, an additional 1 million tons per year by 2022, and 4 million tons per year of hot-rolled coils by 2025. This would make it the 4th facility worldwide to accomplish such a vast production capacity at a single location. The company also focuses on societal contributions, with initiatives in employment generation, social welfare, and CSR activities, intending to provide direct employment to around 12,000-15,000 individuals and indirect employment to 50,000-60,000 individuals3.