‘Steel PLI to attract ₹40k cr in investments’

The Production Linked Incentive (PLI) Scheme for domestic production of specialty steel will result in capacity addition of 25 million tonnes, additional investments of about ₹40,000 crores, and employment generation of 5.25 lakh, the steel Ministry said on Tuesday. The government has approved the PLI scheme for domestic production of specialty steel with an outlay of Rs.6322 crore and its detailed guidelines have been notified in October.
Recapping 2021, the Steel Ministry said that the cumulative capital expenditure (CAPEX) by state-run steel companies for April-November of the current fiscal stands at ₹5,781.1 crores, up 75.7% over the corresponding period last year. “The CAPEX for April-November, 2021 was 43.5% of the Budget Estimate (BE) target," the ministry said in a statement.