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The top five steel companies -- Tata Steel, JSW Steel, JSPL, AMNS India, and SAIL -- dominate the list of qualifiers under the PLI scheme for specialty steel.
The Union Cabinet in July last year approved a Rs 6,322-crore PLI scheme to boost the production of specialty steel in India
Besides, there are a few others like Gallant Metallics, Shyam Metalics Flat Products, and Sunflag Iron and Steel who have been selected to invest under the production-linked incentive (PLI) scheme.
On Friday, the government announced shortlisting 67 out of 79 applications, with an investment potential of Rs 42,500 crore, under the PLI scheme for specialty steel. The proposed investments are expected to generate 70,000 job opportunities and add 26 million tonnes of specialty steel capacity in the country.
As per an official document, Tata Steel has submitted applications to manufacturing seven types of specialty steel products, while JSW Steel submitted for six categories. Jindal Steel Odisha, a subsidiary of Jindal Steel and Power Limited, has submitted the highest number of entries to manufacture eight types of specialty steel products.
ArcelorMittal Nippon Steel (AMNS) India submitted four entries, while the state-owned Steel Authority of India Limited (SAIL) has submitted the least number of applications for just two specialty steel categories.
Tata Steel, JSW Steel, JSPL, AMNS India, and SAIL along with Rashtriya Ispat Nigam Limited (RINL) account for about 60 percent of India's total steel production.
Visakhapatnam-based RINL -- which is India's largest steel maker -- did not participate in the scheme, an official said.
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Credits: BusinessLine
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