Lalbaba Engineering Joins India’s Steel Elite with Landmark PLI Scheme MoU
#LalbabaEngineering #SpecialtySteel #PLIScheme #MakeInIndia #SteelIndustry #IndianManufacturing #HaldiaProject #SeamlessTubes #AatmanirbharBharat #SteelMinistry"The signing of the MoU under the PLI Scheme represents an important step in advancing domestic seamless tube manufacturing capabilities built on specialty steel, aligned with national manufacturing priorities." - Nikunj Dhanuka, Director - Lalbaba Engineering Limited
February 2026 : In a move set to bolster India’s "Atmanirbhar Bharat" mission, Kolkata-based Lalbaba Engineering Limited has officially entered the national spotlight. The integrated manufacturer of seamless tubes signed a Memorandum of Understanding (MoU) under the Government of India’s Production Linked Incentive (PLI) Scheme 1.2 for Specialty Steel, marking a significant milestone for the domestic metallurgical landscape.
The signing took place during a high-profile ceremony at Vigyan Bhavan, organized by the Ministry of Steel. The agreement was formalized in the presence of Shri H.D. Kumaraswamy, Honorable Minister of Steel, and Mr. Nikunj Dhanuka, Director of Lalbaba Engineering. MECON Limited will oversee the implementation as the Project Management Agency.
The approval specifically covers alloy steel and stainless steel long products designed for the strategic sector. By entering the PLI program - a time-bound initiative aimed at enhancing domestic value addition - Lalbaba Engineering is positioning itself to reduce India's reliance on high-grade steel imports and sharpen the nation’s global competitive edge.
A central pillar of this expansion is the company’s proposed cold-finished seamless tubes project at Haldia, West Bengal. This facility will now be eligible for incentives under the scheme, accelerating the production of high-performance components for critical infrastructure.
Commenting on the development, Mr. Nikunj Dhanuka, Director, Lalbaba Engineering Limited said: "The signing of the MoU under the PLI Scheme represents an important step in advancing domestic seamless tube manufacturing capabilities built on specialty steel, aligned with national manufacturing priorities."
Beyond this industrial leap, Lalbaba Engineering is eyeing the capital markets. The company, which serves the railway, automotive, and energy sectors, has already filed its Draft Red Herring Prospectus (DRHP) with SEBI for an Initial Public Offering (IPO).
As the company scales its Haldia operations, this MoU serves as a powerful catalyst, blending government-backed incentives with private-sector precision to redefine India’s specialty steel footprint.
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