+
PLI scheme: 57 MoUs for specialty steel were signed with 27 companies
Steel

PLI scheme: 57 MoUs for specialty steel were signed with 27 companies

The Ministry of Steel signed 57 Memoranda of Understanding (MoU) for specialty steel under the Production Linked Incentive (PLI) Plan with 27 firms.

The government has given Rs 63.22 billion under the PLI scheme to revitalise the steel industry.

Jyotiraditya Scindia, Union minister for Steel, praised the PLI Scheme for specialty steel participants' initiatives after the contracts were signed.

According to the minister, the PLI programme is anticipated to result in an investment of around Rs 300 billion and the addition of roughly 25 million tonnes of specialty steel production capacity over the course of the following five years.

In addition to helping the country reach its goal of becoming the third-largest economy by the years 2030–31, this will also offer excellent chances for the development of both direct and indirect jobs. This is in line with Prime Minister Narendra Modi's resolve and determination.

The minister claimed that an international structural shift from the West to the East has made India the centre of the development and expansion of the steel industry. India is poised to become a global leader in manufacturing, increasing the share of steel in the GDP from 2 to 5%.

Also read:
Chhattisgarh plant is a key to NMDC Steel shares
Vedanta intends to use credit funds to raise up to $1 billion


The Ministry of Steel signed 57 Memoranda of Understanding (MoU) for specialty steel under the Production Linked Incentive (PLI) Plan with 27 firms. The government has given Rs 63.22 billion under the PLI scheme to revitalise the steel industry. Jyotiraditya Scindia, Union minister for Steel, praised the PLI Scheme for specialty steel participants' initiatives after the contracts were signed. According to the minister, the PLI programme is anticipated to result in an investment of around Rs 300 billion and the addition of roughly 25 million tonnes of specialty steel production capacity over the course of the following five years. In addition to helping the country reach its goal of becoming the third-largest economy by the years 2030–31, this will also offer excellent chances for the development of both direct and indirect jobs. This is in line with Prime Minister Narendra Modi's resolve and determination. The minister claimed that an international structural shift from the West to the East has made India the centre of the development and expansion of the steel industry. India is poised to become a global leader in manufacturing, increasing the share of steel in the GDP from 2 to 5%. Also read: Chhattisgarh plant is a key to NMDC Steel shares Vedanta intends to use credit funds to raise up to $1 billion

Next Story
Real Estate

Heena Lalwani Buys Rs 1.13 Billion Juhu Apartment

Heena Lalwani, promoter of Aatman Innovations Private Limited, has purchased a luxury apartment worth Rs 1.13 billion in Mumbai’s upscale Juhu locality, according to property registration documents accessed by Zapkey.com.The 9,862 sq ft apartment, located on the 10th floor of Lodha Developers’ Avalon Tower, was acquired at Rs 115,000 per sq ft and comes with five car parking spaces. The deal, registered on 18 August 2025, also included the payment of Rs 68 million in stamp duty and a Rs 30,000 registration fee.Lodha Developers did not respond to queries regarding the transaction, while the..

Next Story
Real Estate

Godrej Buys KPHB Land for Rs 7 Billion in E-Auction

An acre of prime land in Kukatpally Housing Board (KPHB), Hyderabad, was auctioned for Rs 7 billion, with the Telangana Housing Board generating Rs 5.47 billion from the sale of 7.8 acres through e-auction on 20 August 2025.The auction notification was issued last month, attracting bids from Godrej Properties, Aurobindo Realty, Prestige Estates, and Ashoka Builders, according to Board vice-chairman V.P. Gautham. With an offset price of Rs 4 billion per acre, the three-hour auction saw 46 bid increases, before Godrej Properties acquired the land.Revenue generated from the auction will be utilis..

Next Story
Real Estate

HMDA to Auction 93 Prime Plots in September

The Hyderabad Metropolitan Development Authority (HMDA) is preparing to conduct a three-day auction of prime open plots across Hyderabad, Rangareddy, and Medchal-Malkajgiri districts this September.According to official reports, the e-auction will take place on 17, 18, and 19 September, offering 93 plots. Of these, 70 are located in the Bachupally HMDA layout, with the remainder spread across Turkayamjal, Kokapet, Poppalguda, Chandanagar, Bairagiguda, Gandi Maisamma, Suraram, Medipally, and Bachupally village.The highest upset price has been fixed at Rs 175,000 per square yard for a land parce..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?