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Govt selects 67 applications under PLI scheme for specialty steel Specialty Steel
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Govt selects 67 applications under PLI scheme for specialty steel

India Blooms News Service | @indiablooms | 10 Dec 2022, 02:14 am

New Delhi/IBNS: The government on Friday said it has shortlisted 67 applications from 30 companies under its Rs 6,322-crore production-linked incentives (PLI) scheme for specialty steel.

This will attract committed investment of Rs. 42500 Crore with downstream capacity addition of 26 million tonne and employment generation potential of 70000.

Production Linked Incentive (PLI) Scheme for Specialty Steel was approved by Union Cabinet on 22.07.2021.

A total of 79 applications were received from 35 small and large steel-making companies, committing to an investment of Rs 46,000 crore and downstream capacity addition of 28 million tonne over by 2030.

Primary steelmakers like Steel Authority of India Limited (SAIL), ArcelorMittal Nippon Steel India, Tata Steel and JSW Steel as well as multiple other smaller companies are present in the list of approved applicants, according to an ET report.