Tata Steel Shortlisted Under PLI Scheme for Specialty Steel

SEATTLE (Scrap Monster): The topmost steelmakers including Tata Steel has featured in the list of steel manufacturers who have been selected by the Indian government to invest under its production linked incentive (PLI) scheme for specialty steel. Also included in the list of qualified companies are JSW Steel, JSPL, AMNS India, SAIL and RINL. It must be noted that the above six steelmakers together account for nearly 60% of the country’s total steel production.

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According to official information, a total of seven applications to manufacture various specialty steel products were submitted by Tata Steel. JSW Steel is believed to have submitted applications for six categories. The highest number of applications of eight were submitted by Jindal Steel. ArcelorMittal Nippon Steel India and SAIL have submitted four and two entries respectively. Meantime, RINL did not participate in the scheme application process.

The INR 6,300 crore PLI scheme is an initiative by the government to boost production of specialty steel in the country.

Altogether, 79 applications were submitted, from which a total of 67 applications by as many as 35 different companies have been shortlisted now.