Lalbaba Engineering Limited signs an MoU under India's Production Linked Incentive Scheme 1.2 for Specialty Steel. The initiative, aimed at promoting domestic steel manufacturing, includes Lalbaba's proposed expansion project in West Bengal. The company is prepping for an IPO subject to regulatory approval.

Lalbaba Engineering Joins India's Steel Revolution with PLI Scheme

Lalbaba Engineering Limited Achieves Significant Milestone with MoU Signing under Government of India's Production Linked Incentive Scheme

Lalbaba Engineering Limited has marked a major accomplishment by signing a Memorandum of Understanding under the Government of India's Production Linked Incentive Scheme 1.2 for Specialty Steel.

This partnership is expected to accelerate domestic steel manufacturing, aligning the company's strategic objectives with national manufacturing goals.

Key Highlights of the MoU Signing

Signed at Vigyan Bhavan by the Ministry of Steel with MECON Limited as the Project Management Agency
Lalbaba Engineering's execution will focus on promoting import substitution and enhancing local value addition
Proposed cold finished seamless tubes expansion in West Bengal is part of the scheme

Company's Response to the Partnership

Mr. Nikunj Dhanuka, Director of Lalbaba Engineering Limited, expressed enthusiasm about bolstering domestic seamless tube production.

The company is also gearing up for an initial public offer, subject to necessary approvals, as it expands its footprint in the high-performance manufacturing domain.

About Lalbaba Engineering Limited

Lalbaba Engineering Limited is a leading company in the high-performance manufacturing domain, with a focus on domestic steel manufacturing and seamless tube production.