Jindal Steel and Power Limited (JSPL) managing director Bimlendra Jha said that the company will spend Rs 7,930 crore under the PLI scheme for specialty steel to produce eight different types of high-end alloy in the nation.
The government’s production linked incentive (PLI) scheme, which aims to improve the output of value-added steel using cutting-edge technology in the local steel sector, includes JSPL as one of its qualifying companies.
The government stated on December 9 that 67 entries with an investment potential of Rs 42,500 crore had been chosen for the programme. The proposed investments are anticipated to increase the nation’s capacity for speciality steel by 26 million tonnes and create 70,000 new job opportunities.
When asked about the share of JSPL in the said investment amount, Jha replied, “Our commitment to the PLI scheme (for specialty steel) will be around Rs 7,930 crore.”
JSPL through subsidiary company Jindal Steel Odisha has submitted the highest number of entries to manufacture eight types of specialty steel products, he told PTI.
