INDUSTRY

75 Indian companies line up for PLI Scheme for speciality steel

The government has received around 75 applications from domestic players under the Productive-Linked Incentives (PLI) Scheme for speciality steel, according to an official.

Applicants include all major steel players, like Tata Steel, JSW Steel, JSPL, AMNS India and SAIL, a senior Steel Ministry official said.

“A significant number of applications have been received. There are around 75 applications,” the official has said.

However, no proposal has been received from any foreign entity, according to the official.

After shortlisting the proposals, the government will come out with a final list which will take around 35-40 days, the official has added.

The government has set the final deadline on September 15 after several extensions for receiving proposals from manufacturers for benefits under the PLI scheme for speciality steel.

The Union Cabinet in July last year had approved a Rs 6,322-crore PLI scheme to boost the production of speciality steel in India.

The move is expected to attract an additional investment of about Rs 40,000 crore and generate 5.25 lakh job opportunities.

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