BMW Industries Limited (BMWIL), has signed a Memorandum of Understanding (MoU) with the Ministry of Steel under the Production Linked Incentive (PLI) Scheme 1.1 for Specialty Steel. The MoU was formalized at Vigyan Bhawan, New Delhi.

Mar 24, 2025

BMW Industries Limited (BMWIL), a leading manufacturer in the downstream steel sector, has signed a Memorandum of Understanding (MoU) with the Ministry of Steel under the Production Linked Incentive (PLI) Scheme 1.1 for Specialty Steel. The MoU was formalized at Vigyan Bhawan, New Delhi.

Under this agreement, BMWIL will manufacture coated/plated steel products of metallic/non-metallic alloy and aluminium-zinc coated galvalume products at its upcoming greenfield downstream steel complex in Bokaro, Jharkhand. The company has previously announced its capital expenditure plans, with an investment of INR 803.47 crore for this greenfield project, funded through a combination of internal accruals and debt.

Commenting on the occasion, Mr. Harsh Bansal, Managing Director of BMW Industries Limited, said, “We are honoured to be qualified under the PLI Scheme of the Ministry of Steel, led by the Honourable Minister for Steel & Heavy Industries, H D Kumaraswamy. This milestone will fortify our downstream steel capabilities and expand our footprint in both domestic and international markets.”

Also Read: Indian Hume Pipe Sells Bengaluru Land for INR 559 Crore

He added, “With our strategically positioned Bokaro plant and seamless access to key resources, we are confident this project will create enduring value for our stakeholders while contributing to the government’s vision of advancing specialty steel production in India. Aligned with our Honourable Prime Minister’s ‘Make in India’ and ‘Atmanirbhar Bharat’ initiatives, we remain committed to promoting self-reliance and driving growth in the steel sector.”