Jayaswal Neco Industries has informed that, in line with its commitment to strengthen India’s specialty steel production, it has entered into a Memorandum of Understanding (MoU) with the Ministry of Steel, Government of India on February 9, 2026, in New Delhi, under PLI Scheme 1.2 for Specialty Steel, pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015.

The company has signed the MoU under the “Alloy Steel including Stainless Steel Rolled–Long Products” category, opting for the Capacity Augmentation route. It has committed an investment of Rs 45.08 crore in its existing steelmaking facilities.

Under the agreement, Jayaswal Neco Industries plans to enhance annual production capacity by 18,000 TPA in FY27, 30,000 TPA in FY28, 55,000 TPA in FY29, and 80,000 TPA in FY30.

The Ministry of Steel has outlined a structured vision and execution framework to support domestic specialty steel manufacturing. The company will be required to submit its annual incentive claims within seven months from the end of the relevant financial year, with disbursements subject to the scheme guidelines and the approved budgeted outlay.