CAMP HILL, Pa., April 24, 2015 (GLOBE NEWSWIRE) -- Diversified global industrial company Harsco Corporation (NYSE:HSC) announced today it has begun its previously announced multi-year contract to provide onsite material processing services to India's largest stainless steel producer, Jindal Stainless Limited (JSL).
The project at JSL's all-new production facility in the growing steel-producing area of Jajpur, Odisha marks Harsco's fifth major steel mill services site in India and its first serving India's stainless sector. Harsco's services include specialized process technologies for recovering metal from stainless steel slag co-products, where Harsco has consistently generated metal recovery rates above 99 percent at its similar operations throughout the world.
"From 1 million tonnes per annum of stainless steel production, we used to lose 5 to 6 thousand tonnes of metal embedded in slag," said JSL Unit Head, S. K. Agrawal. "With this new set-up, Harsco will handle all slag, treat it to recover metal and generate a metal-free slag."
The metal content recovered by Harsco is immediately available for reuse in the production of new steel, while Harsco continues to develop a number of commercial products from the residual slag material. These products, which range from agricultural fertilizers to construction materials, offer environmentally-beneficial commercial applications that provide Harsco's customers a near-zero waste stream alternative to costly and harmful landfills.
"The JSL Jajpur site is one of our first start-ups since our Project Orion improvement program and as such will benefit from our heightened Harsco Way operating focus," said Harsco Metals & Minerals division president Rick Lundgren. "This is a major opportunity to demonstrate our higher-performing value proposition within one of the world's leading steel markets." As one example of its value to customers, Harsco's stainless steel slag wet milling plant for the JSL Jajpur project was fully designed and detailed in-house, drawing upon Harsco's global design office in India for engineering best practices and design standards.
About Jindal Stainless Limited
Jindal Stainless Limited is a globally recognized producer of stainless steel flat products covering an extensive range of grades and product outputs, including specialty products such as razor blade steel, precision strips and coin blanks. After full expansion of its state-of-the-art Jajpur plant, Jindal Stainless is expected to become one of the world's top ten stainless steel producers, with an installed stainless steel capacity of approximately 2.5 million tons per annum.
About Harsco Corporation
Harsco Corporation serves major industries that are fundamental to worldwide economic development, including steel and metals production, railways and energy. Harsco's common stock is a component of the S&P MidCap 400 Index and the Russell 2000 Index. Additional information can be found at www.harsco.com.