PLI Scheme: Tata Steel, JSW Steel, JSPL, AMNS India, SAIL et al. selected for specialty steels PLI scheme

13 Dec 2022 , 08:21 AM

The list of qualifiers under the PLI plan for specialty steel is dominated by the top five steel companies: Tata Steel, JSW Steel, JSPL, AMNS India, and SAIL. A few additional companies, including Gallant Metalliks, Shyam Metalics Flat Products, and Sunflag Iron and Steel, have also been chosen to make investments under the production-linked incentive (PLI) programme.

The government said on Friday that 67 out of 79 proposals had been shortlisted, with a total investment potential of Rs42,500 crore. The proposed investments are anticipated to increase the nation’s capacity for speciality steel by 26 million tonnes and create 70,000 new job opportunities.

A formal document states that JSW Steel submitted for six categories, whilst Tata Steel submitted for seven different sorts of special steel products.

The most entries were submitted by Jindal Steel Odisha, a division of Jindal Steel and Power Limited, to produce eight different types of specialty steel products.

State-owned Steel Authority of India Limited (SAIL) filed the fewest number of applications for just two specialty steel categories, while ArcelorMittal Nippon Steel (AMNS) India submitted four entries.

About 60% of India’s total steel output is made by Rashtriya Ispat Nigam Limited (RINL), Tata Steel, JSW Steel, JSPL, AMNS India, and SAIL.

The largest steel manufacturer in India, RINL, situated in Visakhapatnam, declined to take part in the programme, an official said.

The government is figuring out the transaction structure for the strategic sale of RINL, according to DIPAM Secretary Tuhin Kanta Pandey, who stated this on Friday.

To increase the production of specialty steel in India, the Union Cabinet approved a Rs6,322 crore PLI plan in July of last year.

Specialty rails, high strength/wear-resistant steel, alloy steel products, steel wires, and electrical steel are a few of the categories of specialty steel that are covered under the programme.

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