Top five steel companies among others selected for PLI scheme
14 Dec 2022
2 Min Read
CW Team
The top five steel companies, Tata Steel, JSW Steel, JSPL, AMNS India, and SAIL, dominate the list of PLI qualifiers for speciality steel. In addition, Gallant Metalliks, Shyam Metalics Flat Products, and Sunflag Iron and Steel have been chosen to invest under the production-linked incentive (PLI) scheme. The government has announced that it had shortlisted 67 of 79 applications for the PLI scheme for speciality steel, with an investment potential of Rs 425 billion. The proposed investments are expected to create 70,000 new jobs and 26 million tonne of speciality steel capacity in the country.
According to an official document, Tata Steel has applied to manufacture seven types of speciality steel products, while JSW Steel has applied for six. Jindal Steel Odisha, a subsidiary of Jindal Steel and Power Limited, received the most entries to manufacture eight different types of speciality steel products.
ArcelorMittal Nippon Steel (AMNS) India submitted four entries, while the state-owned Steel Authority of India (SAIL) submitted the fewest, with only two speciality steel applications. Tata Steel, JSW Steel, JSPL, AMNS India, and SAIL, along with Rashtriya Ispat Nigam (RINL), account for roughly 60 per cent of total steel production in India.
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The top five steel companies, Tata Steel, JSW Steel, JSPL, AMNS India, and SAIL, dominate the list of PLI qualifiers for speciality steel. In addition, Gallant Metalliks, Shyam Metalics Flat Products, and Sunflag Iron and Steel have been chosen to invest under the production-linked incentive (PLI) scheme. The government has announced that it had shortlisted 67 of 79 applications for the PLI scheme for speciality steel, with an investment potential of Rs 425 billion. The proposed investments are expected to create 70,000 new jobs and 26 million tonne of speciality steel capacity in the country.
According to an official document, Tata Steel has applied to manufacture seven types of speciality steel products, while JSW Steel has applied for six. Jindal Steel Odisha, a subsidiary of Jindal Steel and Power Limited, received the most entries to manufacture eight different types of speciality steel products.
ArcelorMittal Nippon Steel (AMNS) India submitted four entries, while the state-owned Steel Authority of India (SAIL) submitted the fewest, with only two speciality steel applications. Tata Steel, JSW Steel, JSPL, AMNS India, and SAIL, along with Rashtriya Ispat Nigam (RINL), account for roughly 60 per cent of total steel production in India.
Also read:
Chenab Valley Power announces global tender for Kwar HEP's E&M work
Demand for electricity across India could rise 7% in FY23
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