Jindal Steel and Power Limited (JSPL) will spend Rs 7,930 crore under the PLI scheme for specialty steel to manufacture eight types of high-end alloy in the country, its Managing Director Bimlendra Jha said.
JSPL is one of the qualifiers of the government’s production linked incentive (PLI) scheme which aims to increase the output of value-added steel using new-age technologies in the domestic steel sector. On December 9, the government announced the selection of 67 entries with an investment potential of Rs 42,500 crore under the scheme. The proposed investments are expected to generate 70,000 job opportunities and add 26 million tonnes of speciality steel capacity in the country.
The high tensile sheets which the company would be manufacturing under the PLI scheme are used in structural-grade fabrication and the automobile industry. Grades like auto-GR steel AHSS and cold rolled and coated products are used by the auto sector, while tin mill products are used in the tin and food processing industry.