Jindal Stainless Limited on Thursday announced that it has signed an agreement with the Ministry of Steel under the newly launched Production Linked Incentive (PLI) 1.2 scheme for speciality steel.

The agreement aims to support capacity expansion and the development of value-added products, including specialised alloys and forged steel products.

Earlier this week, Union Steel Minister H. D. Kumaraswamy launched the third round of the PLI scheme for speciality steel, which targets the addition of 8.7 million tonnes of upgraded alloy steel capacity.

Through this initiative, Jindal Stainless plans to enhance its manufacturing capabilities and strengthen its presence in the speciality steel segment.