Synergy Advanced Metals Signs MoU With Ministry Of Steel

23 Feb 2026 CW Team

The managing director said that the agreement marked a landmark moment and reinforced the company's commitment to India's vision of becoming a global player in speciality steel manufacturing. He added that aligning with national priorities of Make in India and Aatmanirbhar Bharat would enable the company to enhance domestic production of stainless steel products. He noted that the partnership would support domestic supply chains and encourage technology upgradation across the value chain.

Under PLI Scheme 1.2, 85 MoUs have been signed with 55 companies, committing investments of 118,870 million (mn). These projects are expected to add eight point seven mn t of speciality steel capacity by FY 2031, expanding India's capabilities in higher value segments such as electrical steel, alloy and stainless grades, coated products and supplies for strategic sectors. The figures were provided by the Press Information Bureau.

Synergy Advanced Metals Limited, formerly Synergy Steels Limited, is a manufacturer of stainless steel long products headquartered in New Delhi with its manufacturing hub in Alwar, Rajasthan. The company produces stainless steel billets, wire rods, bright bars, flats and fasteners and reported a total production capacity of 190,000 TPA as of 30 September 2025. The MoUs are intended to support capacity enhancement and meet rising demand in domestic and strategic markets. Company representatives indicated that the MoUs will be executed in phases aligned with policy timelines and regulatory approvals.

Synergy Advanced Metals Limited has signed a memorandum of understanding with the Ministry of Steel, Government of India to participate in the production-linked incentive scheme for speciality steel. The company executed four MoUs following approval through the review process conducted by MECON, the programme management agency appointed by the ministry to implement the scheme and assess eligibility. The agreements form part of the wider national effort to bolster high value steel production and attract targeted investments under the scheme. The managing director said that the agreement marked a landmark moment and reinforced the company's commitment to India's vision of becoming a global player in speciality steel manufacturing. He added that aligning with national priorities of Make in India and Aatmanirbhar Bharat would enable the company to enhance domestic production of stainless steel products. He noted that the partnership would support domestic supply chains and encourage technology upgradation across the value chain. Under PLI Scheme 1.2, 85 MoUs have been signed with 55 companies, committing investments of 118,870 million (mn). These projects are expected to add eight point seven mn t of speciality steel capacity by FY 2031, expanding India's capabilities in higher value segments such as electrical steel, alloy and stainless grades, coated products and supplies for strategic sectors. The figures were provided by the Press Information Bureau. Synergy Advanced Metals Limited, formerly Synergy Steels Limited, is a manufacturer of stainless steel long products headquartered in New Delhi with its manufacturing hub in Alwar, Rajasthan. The company produces stainless steel billets, wire rods, bright bars, flats and fasteners and reported a total production capacity of 190,000 TPA as of 30 September 2025. The MoUs are intended to support capacity enhancement and meet rising demand in domestic and strategic markets. Company representatives indicated that the MoUs will be executed in phases aligned with policy timelines and regulatory approvals.

Infrastructure Urban

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Infrastructure Urban

02 Jun 2026

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Infrastructure Transport

02 Jun 2026

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..