Kolkata: Lalbaba Engineering Limited has signed a Memorandum of Understanding (MoU) under the Government of India’s Production Linked Incentive (PLI) Scheme 1.2 for Specialty Steel, marking its admission into the national programme aimed at strengthening domestic steel manufacturing.
The MoU was signed at Vigyan Bhavan during the official signing ceremony organised by the Ministry of Steel, with MECON Limited acting as the Project Management Agency for the scheme.
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Lalbaba Engineering Joins Specialty Steel PLI Programme
The approval covers alloy steel and stainless steel long products for the strategic sector.
The scheme is a time-bound, production-linked initiative designed to promote import substitution, enhance domestic value addition, and improve India’s global competitiveness in high-grade steel products.
Commenting on the development, Nikunj Dhanuka, Director, Lalbaba Engineering Limited said,
“The signing of the MoU under the PLI Scheme represents an important step in advancing domestic seamless tube manufacturing capabilities built on specialty steel, aligned with national manufacturing priorities.”
The company’s proposed cold-finished seamless tubes expansion project at Haldia will also be eligible for incentives under the scheme.
