Jayaswal neco industries Limited has signed a Memorandum of Understanding with the Ministry of Steel, Government of India to participate in the Production Linked Incentive Scheme 1.2 for Specialty Steel. The MOU was executed on 9th February, 2026 in New Delhi, marking a significant step in the company's expansion strategy.

Investment and Production Commitments

The company has committed to substantial investments and production targets under the PLI scheme. The agreement covers the "Alloy Steel including Stainless Steel Rolled-Long Products" category under the "Capacity Augmentation" option.

Production Enhancement Timeline

The company has outlined a progressive production enhancement plan spanning four financial years. The committed annual production targets demonstrate a significant scaling up of manufacturing capacity.

Scheme Implementation Framework

The PLI Scheme 1.2 for Specialty Steel operates under a structured framework designed to boost domestic manufacturing capabilities. Key operational aspects include:

• Annual incentive claims must be submitted within seven months from the end of the respective financial year
• Incentive disbursement will be in accordance with the scheme guidelines
• Disbursements are restricted to the budgeted outlay as per government allocations
• The Ministry of Steel has established comprehensive vision, planning and execution architecture to facilitate specialty steel manufacturing

Regulatory Compliance

The agreement signing was disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has provided comprehensive details as per SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11th November, 2024, ensuring full regulatory compliance and transparency for stakeholders.

This strategic partnership with the Government of India reinforces the company's commitment to contributing to India's specialty steel production capacity enhancement and aligns with national manufacturing objectives.

Jayaswal neco industries Limited has signed a significant Memorandum of Understanding with the Government of Maharashtra for establishing a world-class integrated steel plant, marking a major expansion in the company's manufacturing capabilities. The agreement was executed on 22nd January, 2026 at Davos, Switzerland, demonstrating the company's commitment to enhancing India's steel production capacity.

Project Overview and Investment Details

The proposed integrated steel plant will be established at Gadchiroli District, Maharashtra, with a production capacity of two million tonnes per annum. The project represents a substantial investment commitment and employment generation opportunity for the region.

Government Support and Facilitation

The Government of Maharashtra has committed to providing comprehensive support for the project implementation. The state government will facilitate the company in obtaining necessary permissions, registrations, approvals, clearances, and fiscal incentives from concerned departments as per applicable policies, rules, and regulations.

This collaboration reflects the company's strategic approach to contributing towards industrialization in Maharashtra while strengthening India's overall steel production infrastructure.

Regulatory Compliance and Disclosure

The company disclosed this material development under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure follows the SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11th November, 2024.

Delayed Submission Explanation

The company acknowledged a delay in the original disclosure submission, which was attributed to the time required for collating complete information regarding the MOU terms signed at Davos, Switzerland. The process was further delayed due to time zone differences between India and Switzerland. The company has expressed regret for the unintentional delay and reaffirmed its commitment to timely compliance with all applicable regulations.

This strategic initiative positions Jayaswal Neco Industries Limited to significantly expand its presence in the Indian steel sector while contributing to regional industrial development and employment generation in Maharashtra.