Home / News / India /  Steel Ministry extends PLI scheme application deadline for specialty steel again

The Union Ministry of Steel on 17 August extended the last date for receipt of applications under the Production Linked Incentive (PLI) Scheme for Specialty Steel again. The deadline to fill application through the online application window is now 15 September, 2022.

The application can be sent to the website https://plimos.meconlimited.co.in/.

"The last date for receipt of applications under the Production Linked Incentive (PLI) Scheme for Specialty Steel through the online application window (at https://plimos.meconlimited.co.in/) has been extended up to 15.09.2022," the Ministry of Steel said in an official statement.

The government through a gazette notification on 29 July, 2021, informed that the Union Cabinet approved the PLI Scheme for Specialty Steel in India to be implemented over FY 2023-24 to FY 2029-30 with a budgetary outlay of 6,322 crore.

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The government through this scheme aims to promote manufacturing of such steel grades within the country. Also, the government aims to boost the domestic production of ‘Specialty Steel’ and attract significant investment for production of ‘Specialty Steel’ in the country.

Apart from this, the ministry had said that the scheme will give employment to about 5,25,000 people of which 68,000 will be direct employment. However, the last date has ben extended multiple times since it was launched in 2021.

As per government's expectation, the speciality steel production will become 42 million tonnes by the end of 2026-27 and the export of specialty steel will become around 5.5 million tonnes by the same period.

The ministry had chosen 5 categories of specialty steel which have been chosen in the PLI Scheme – including coated/plated steel products, high strength/wear resistant steel, specialty rails, alloy steel products and steel wires, and electrical steel.

Saurav Mukherjee
A business media enthusiast...believe to listen more, than just blabbering like others.
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