Lalbaba Engineering Joins India's Steel Revolution with PLI Scheme

Lalbaba Engineering Limited has embraced a significant milestone by signing a Memorandum of Understanding under the Government of India's Production Linked Incentive Scheme 1.2 for Specialty Steel. This partnership will catalyze domestic steel manufacturing, marking the company's strategic alignment with national manufacturing goals.

The official MoU signing took place at Vigyan Bhavan, orchestrated by the Ministry of Steel, with MECON Limited as the Project Management Agency. As part of the scheme, Lalbaba Engineering's execution will target promoting import substitution and enhancing local value addition through its proposed cold finished seamless tubes expansion in West Bengal.

Mr. Nikunj Dhanuka, Director of Lalbaba Engineering Limited, expressed enthusiasm about bolstering domestic seamless tube production. Simultaneously, the company is preparing for an initial public offer, subject to necessary approvals, as it expands its footprint in the high-performance manufacturing domain.