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Now you will not have to import steel to make transformers, the government has made special arrangements
Steel Minister HD Kumaraswamy launched the Production Linked Incentive (PLI) Scheme 1.1 to encourage the production of special types of steel. If a company invests even Rs 3000 crore for the production of CRGO steel, which is mainly used in grid infrastructure along with power transformers, then it will be entitled to incentives. Earlier this limit was Rs 5000 crore.
Now our dependence on the import of special types of steel used in power transformers and other industries can be reduced. On Monday, Steel Minister HD Kumaraswamy launched the Production Linked Incentive (PLI) Scheme 1.1 to encourage the production of special types of steel.
Similarly, PLI Scheme 1.0 was also launched three years ago for the production of special types of steel, but no company came forward under this scheme for the production of eight types of special steel like Cold Rolled Grain Oriented (CRGO). The conditions for getting incentives under PLI Scheme 1.1 have been relaxed to encourage the domestic production of these steels.
The incentives will be available if a company invests even Rs 3000 crore for the production of CRGO steel, mainly used in grid infrastructure along with electric transformers. Earlier this limit was Rs 5000 crore. Similarly, the production limit has been reduced from two lakh tonnes to 50,000 tonnes.
