Ministry of Steel signs 85 MoUs with 55 companies worth ₹11,887 crore under PLI 1.2 for specialty steel
The Ministry of Steel signed MoUs for 85 projects of 55 companies under the third round (PLI 1.2) of the PLI Scheme for Specialty Steel at Vigyan Bhawan, New Delhi, on 9 February 2026.
Summary
The Ministry of Steel signed Memoranda of Understanding for 85 projects of 55 companies under PLI Scheme 1.2, the third round of the Production Linked Incentive Scheme for Specialty Steel, at Vigyan Bhawan, New Delhi, on 9 February 2026, in the presence of Steel Minister H. D. Kumaraswamy. The companies have committed ₹11,887 crore of investment and 8.7 million tonnes of specialty steel capacity by FY 2031, in segments such as electrical steel, alloy and stainless steels, coated products and grades for strategic sectors. The scheme was first launched in July 2021. Committed investment under PLI 1.0 and 1.1 together is ₹43,874 crore, and ₹236 crore of incentive has been disbursed so far.
Key facts
- Date and place
- 9 February 2026, Vigyan Bhawan, New Delhi
- MoUs
- 85 projects of 55 companies
- Committed investment
- ₹11,887 crore
- Capacity
- 8.7 million tonnes by FY 2031
- Scheme origin
- PLI for Specialty Steel launched July 2021
- Earlier rounds
- PLI 1.0 + 1.1: ₹43,874 crore committed; ₹236 crore disbursed
Practice MCQs 3 questions
How much investment did companies commit under the MoUs signed for PLI 1.2 (specialty steel) on 9 February 2026?
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Correct answer: D — ₹11,887 crore
The 55 companies committed ₹11,887 crore for 85 projects.
What specialty steel capacity is expected from the PLI 1.2 projects by FY 2031?
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Correct answer: C — 8.7 million tonnes
The PLI 1.2 projects are expected to add 8.7 million tonnes of specialty steel capacity by FY 2031.
Consider the following about the PLI Scheme for Specialty Steel: 1. The scheme was first launched in July 2021. 2. The MoUs signed on 9 February 2026 under PLI 1.2 were with 85 companies. Which of the above is/are correct?
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Correct answer: A — 1 only
Only 1 is correct. The scheme began in July 2021. The 9 February 2026 MoUs covered 85 projects of 55 companies, not 85 companies.