Jayaswal Neco Industries Limited has signed a Memorandum of Understanding (MoU) with the Ministry of Steel, Government of India, to participate in the Production Linked Incentive (PLI) Scheme 1.2 for Specialty Steel, reinforcing its commitment to capacity augmentation and domestic specialty steel manufacturing.
Feb 10, 2026
Jayaswal Neco Industries Limited entered into an MoU with the Ministry of Steel, under the PLI Scheme 1.2 for specialty steel. The agreement aligns with the Government of India’s initiative to boost domestic specialty steel production and reduce import dependence.
Under the MoU, the company will invest INR 45.08 crore in its existing steelmaking facilities for capacity augmentation in the “Alloy Steel including Stainless Steel Rolled-Long Products” category. The planned expansion will result in incremental annual production capacities of 18,000 TPA in FY 2026–27, 30,000 TPA in FY 2027–28, 55,000 TPA in FY 2028–29, and 80,000 TPA in FY 2029–30.
The company stated that the Ministry of Steel has put in place a clear vision and execution framework to support the growth of specialty steel manufacturing in India. Incentive claims under the scheme will be submitted annually, with disbursements subject to scheme guidelines and budgeted outlay.
