Harsco Awarded $100M Multi-Year Contract for Metal Recovery in India
Diversified global industrial company Harsco Corporation (NYSE: HSC) announced today a new multi-year contract valued at more than $100 million with India's largest stainless steel producer, Jindal Stainless Limited (JSL).
The 15-year contract, Harsco's second major award in two months within India's rapidly developing steel sector and its first within India's stainless steel sector, calls on Harsco to serve as an onsite resource recovery and material handling partner to JSL's expanding stainless steel production operations in India. Harsco's services are scheduled to begin in the second half of this year and will include the Company's specialized process technologies for recovering metal from stainless steel production by-products, where Harsco has consistently generated metal recovery rates above 99 percent at similar operations throughout the world.
Commenting on the award, JSL representatives said, "This contract will help Jindal Stainless Limited to improve efficiency in the metal recovery process through an industry leader like Harsco, without making any additional capital investment." Part of the $15 billion O P Jindal Group, Jindal Stainless Limited has grown from a single-site plant in the 1970s to become India's only fully integrated stainless steel manufacturer, combining diversified interests in steel, energy,