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PLI Scheme For Speciality Steel: Tata Steel, JSW Steel, JSPL, AMNS India, SAIL Among 75 Applicants For Rs 6,322-crore Incentives On Offer
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The government has received around 75 applications from domestic players under the PLI Scheme for specialty 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 around 75 applications,'' the official 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 would take around 35-40 days, the official said.
The government had set the final deadline on September 15 after several extensions for receiving proposals from manufacturers for benefits under the PLI (Production-Linked Incentive) scheme for speciality steel.
The Union Cabinet in July last year 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.
The scheme aims to boost the production of high grade specialty steel in the country, enhance exports and minimise dependence on imports for high-end steel.
The PLI scheme covers coated and plated steel products, high strength and wear resistant steel, specialty rails, alloy steel products, steel wires and electrical steel.These steel products are used in a variety of applications which are both strategic and non-strategic and include white goods, automobile body parts and components, pipes for transportation of oil and gas, boilers, ballistic and armour sheets meant for defence application, high-speed railway lines, turbine components, electrical steel meant for power transformers and electric vehicles.
India presently operates at the lower end of the value chain in Steel sector. Value added steel grades are largely imported in India. This is because of the disabilities faced by the steel industry to the tune of $80-100 per tonne, on account of higher logistics and infra cost, higher power and capital cost and, taxes and duties.
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