Harsco Environmental Expands Services in New 15-Year Contract With Jindal Stainless

Rhea-AI Summary

Harsco Environmental (NYSE:NVRI) signed a 15-year, $150 million contract with Jindal Stainless on Oct 15, 2025 to expand slag-processing operations at Jajpur, Odisha, India.

The deal extends the existing agreement by 10 years, funds construction of an additional wet milling plant (the only facility of its kind in India) to recover metal from hot slag, and follows a prior contract under which Harsco processed over 5 million tons of slag. The expanded scope is expected to support Jindal Stainless’ capacity growth and create approximately 140 new jobs in the region.

Positive

• $150 million contract value over 15 years
• Extension adds 10 years to existing agreement
• New wet milling plant—only facility of its kind in India
• Processed over 5 million tons of slag under prior contract
• Expected creation of ~140 jobs in Jajpur

Negative

• None.

Insights

Strategic Industrial Analyst

Long-term $150 million contract expands Harsco Environmental’s Indian footprint and adds processing and job creation tied to Jindal Stainless’ capacity growth.

Harsco Environmental gains a 15-year agreement worth $150 million to process additional stainless steel slag at Jajpur, including building and operating a new wet milling plant that will recover metal from hot slag. The deal extends the prior relationship and leverages operational scale by adding a unique facility described as the only one of its kind in India.

The arrangement depends on Jindal Stainless’ expanded production and on execution of the new wet milling plant; operational, permitting, and construction timelines are material risks. The contract explicitly expects roughly 140 new jobs and a 10-year extension component; monitor construction milestones, plant commissioning, and any stated timeline toward doubling business in India by 2028 over the next five years.

• The division’s expanded services with Jindal Stainless are set to process additional slag from their Jajpur facility, supporting capacity expansion 
• The renewed agreement builds on the success of the first contract, in which Harsco Environmental processed over five million tons of slag for Jindal Stainless

LONDON, Oct. 15, 2025 (GLOBE NEWSWIRE) -- Harsco Environmental, a division of Enviri Corporation (NYSE: NVRI) and a global leader in providing innovative environmental solutions, announced it has signed a 15-year, $150 million contract with Jindal Stainless, the largest stainless steel producer in India. This renewed agreement will expand Harsco Environmental’s operations in Jajpur, Odisha, India, to process additional stainless steel slag from Jindal Stainless’ expanded operations, furthering the division’s relationship with the company that began in 2015.

“This expanded partnership with Jindal Stainless represents a significant step in our shared journey toward transforming the stainless steel industry with sustainable solutions,” said Harsco Environmental President Christophe Reitemeier. “By working together, we are advancing our operational footprint, contributing to the local economy, and empowering the community with new opportunities, all while driving meaningful environmental impact. With this new contract, Harsco Environmental continues to grow with the industry and is well on course to double its business in India by 2028, marking a five-year period.”

“As we expand capacity to meet the rising stainless steel demand in India and globally, our focus remains strongly on doing so responsibly and in an environmentally conscious way. We are strengthening our partnership with Harsco Environmental, an organisation that shares our commitment to circularity in stainless steel production. The upcoming wet milling plant, with its benchmark metal recovery and waste management, will enable gainful utilisation of slag and create new opportunities for the communities where we operate,” said Jindal Stainless Managing Director, Mr. Abhyuday Jindal.

The contract includes the following components: an extension of the existing agreement to process stainless steel slag for another 10 years, and the construction of an additional wet milling plant to support Jindal Stainless’ expansion of stainless steel operations. Harsco Environmental will operate the wet milling plant, the only one of its kind in India, which will handle hot slag and recover metal from waste products.

The new and expanded capabilities are expected to create approximately 140 new jobs in the region.

For more information about Harsco Environmental and its innovative solutions, visit www.harsco-environmental.com.

About Harsco Environmental

Enviri’s Harsco Environmental division is the largest and most comprehensive provider of onsite material processing and environmental services to the global metals industry, with operations at over 130 customer sites across more than 32 countries. Harsco Environmental is a technology partner delivering cleaner, more efficient metal production, providing customers with economically and environmentally viable solutions for the treatment and reuse of production co-products. Visit harsco-environmental.com to learn more.

About Jindal Stainless

India’s leading stainless-steel manufacturer, Jindal Stainless, had a consolidated annual turnover of INR 40,182 crore (USD 4.75 billion) in FY25 and is ramping up its facilities to reach 4.2 million tonnes of annual melt capacity in FY27. It has 16 stainless steel manufacturing and processing facilities in India and abroad, including in Spain and Indonesia, and a worldwide network in 12 countries, as of March 2025. In India, there are ten sales offices and six service centres, as of March 2025. The company’s product range includes stainless steel slabs, blooms, coils, plates, sheets, precision strips, wire rods, rebars, blade steel, and coin blanks.

Jindal Stainless relies on its integrated operations to enhance its cost competitiveness and operational efficiency. Founded in 1970, Jindal Stainless continues to be inspired by a vision for innovation and enriching lives and is committed to social responsibility.

Jindal Stainless remains focused on a greener and sustainable future. The company manufactures stainless steel using electric arc furnace, a process that significantly reduces greenhouse gas emissions and allows for recyclability of scrap without compromising on quality.

Investor Contact David Martin +1.267.946.1407 dmartin@enviri.com	Media Contact Karen Tognarelli +1.717.480.6145 ktognarelli@enviri.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b05a7fab-2c6b-4684-b97e-6715affe55fe

FAQ

What are the terms of Harsco Environmental's 2025 contract with Jindal Stainless (NVRI)?

Harsco signed a 15-year, $150 million contract that extends slag-processing services and funds a new wet milling plant in Jajpur.

How long does the Jindal Stainless (NVRI) agreement extend Harsco's existing deal?

The announcement extends the existing agreement by 10 years, resulting in a total 15-year contract.

What is the purpose of the wet milling plant in the Harsco–Jindal Stainless NVRI deal?

The wet milling plant will handle hot slag and recover metal from waste products, supporting Jindal Stainless’ capacity expansion.

How many jobs will the Harsco Environmental expansion create in Jajpur, India?

The expanded operations are expected to create approximately 140 new jobs in the region.

What track record does Harsco Environmental have with Jindal Stainless prior to the new NVRI contract?

Under the first contract, Harsco processed over 5 million tons of stainless steel slag for Jindal Stainless.

Will Harsco Environmental operate the new wet milling plant under the NVRI contract?

Yes; Harsco Environmental will operate the new wet milling plant built to support Jindal Stainless’ expansion.