Synergy Advanced Metals Limited (SAML) has formalised its participation in the Production Linked Incentive (PLI) Scheme for Specialty Steel by signing a Memorandum of Understanding with the Ministry of Steel, Government of India. The company executed four separate MoUs following approval under the scheme’s evaluation process conducted by MECON Limited, the programme management agency appointed by the Ministry of Steel to oversee implementation and assess eligibility.
Commenting on the development, Managing Director Anubhav Kathuria described the agreement as a significant step in strengthening the company’s role in advancing India’s specialty steel manufacturing ecosystem. He noted that aligning with national initiatives such as Make in India and Aatmanirbhar Bharat would help expand domestic stainless steel production and enhance the country’s global competitiveness in high-grade steel segments.
Under PLI Scheme 1.2, a total of 85 MoUs have been signed with 55 companies, representing committed investments of ₹11,887 crore. The approved projects are projected to create an additional 8.7 million tonnes of specialty steel capacity by FY 2031. The expansion will support growth in advanced product categories including electrical steel, alloy and stainless steels, coated products, and grades catering to strategic and infrastructure sectors. (Source: PIB)
Synergy Advanced Metals Limited (formerly Synergy Steels Limited) manufactures stainless steel long products and is headquartered in New Delhi, with its primary production facility in Alwar, Rajasthan. The company produces stainless steel billets, wire rods, bright bars, flats, and fasteners, with a total installed capacity of 190,000 tonnes per annum as of September 30, 2025.
