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Synergy Advanced Metals has signed an MoU with India’s Ministry of Steel to participate in the Production-Linked Incentive (PLI) scheme for speciality steel, marking a new phase in its expansion plans for higher-value stainless steel products. The company has executed four MoUs after clearing the eligibility review process, aligning its growth roadmap with the government’s push to scale domestic speciality steel manufacturing.
The move is aimed at strengthening India’s stainless steel supply chain, supporting technology upgrades, and boosting value-added production under the Make in India and Aatmanirbhar Bharat agenda. For the industry, the development signals continued momentum in the speciality steel segment—covering premium grades used in strategic and industrial applications.
Synergy Advanced Metals (earlier known as Synergy Steels) is focused on stainless steel long products such as billets, wire rods, bright bars, flats and fasteners, with its key manufacturing base in Rajasthan. With the PLI framework encouraging fresh investment and capacity addition across the sector, companies like Synergy are positioning to meet rising domestic demand while improving competitiveness in high-grade steel categories.
Also Read : Steel Company Expands into Defence, Aerospace & Nuclear Sectors HPIL Signs MoU with Maharashtra for ₹3,135-Crore Steel Plant in Gadchiroli
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