The steel ministry has announced that it is extending the deadline for the PLI scheme for speciality


The Ministry of Steel has announced that the deadline for applications under the Production Linked Incentive (PLI) scheme for specialty steel has been extended to September 15, 2022.


The PLI scheme was first introduced in July 2021 and offers a production-linked incentive of up to Rs 6,300 crore for specialty steel products over a five-year period. This includes coated/plated steel products, high strength/wear resistant steel, specialty rails, alloy steel goods, steel wires and electrical steel.


The government anticipates that this scheme will attract nearly Rs 40,000 crore in investment and lead to a capacity addition of 25 million tonnes for specialty steel.