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Sandur Manganese will be buying an 80% stake in the company at an enterprises value of Rs 3,000 crore. It will spend around ?2,400 crore through a mix of equity and debt to buy Arjas Steel, of which around 25-30% will be debt. ....
The government in 2021 announced PLI schemes for 14 sectors such as telecommunication, white goods, textiles, manufacturing of medical devices, automobiles, speciality steel, etc. ....
Responding to a query on the decision to put the toy PLI proposal on hold, DPIIT secretary Rajesh Kumar Singh said, “Currently we are focused on getting these 14 PLI schemes up and running in a good way. For the time being, the new PLI schemes are not being considered and we will focus on ensuring that these existing schemes get implemented well. Thereafter well see.” ....
The domestic steel industry has invested Rs 10,730 crore out of the total committed Rs 29,531 crore under the Production-Linked Incentive (PLI) Scheme for the sector as of September 2023. The Speciality Steel PLI scheme aims to create 25 million tonnes of specialty steel in the next five years. The Centre has constituted a Grievance Redressal Mechanism to address challenges and concerns raised by companies participating in the PLI scheme. ....