Steelmaker AMNS India is planning to manufacture speciality steel under the PLI Scheme, its Chief Marketing Officer (CMO) Ranjan Dhar has said. The Rs 6,322-crore production-linked incentive (PLI) scheme was notified by the government on October 22, 2021. The scheme aims to boost the production of speciality steel in India, attracting fresh investments of about Rs 40,000 crore and generating 5.25 lakh new job opportunities.
The five categories of speciality steel that are included in the PLI scheme are coated/plated steel products, high strength/wear-resistant steel, speciality rails, alloy steel products, steel wires and electrical steel. These grades are being imported for domestic use. "Yes, we have planned our capacity expansion programme. PLI scheme surely gives a boost and direction to it," he told PTI, replying to a question whether his company is looking to avail the benefits being offered by the government under the scheme.
At this stage, AMNS India is looking at high-strength and coated steel, and may look at expanding to other categories as well, Dhar said.
With the production of these categories of steel that require special technology, the company is looking to capture segments applications in solar, high-end automotive, critical high strength applications like API etc, he said.
On the technology arrangements to produce such special grades of steel, he said the company's new investments are coming loaded with the expertise of parent companies. "There is hardly any technology or product which our parents ArcelorMittal & Nippon Steel don't have. AMNS has a natural advantage in this aspect".