BMW Industries Signs MoU with Ministry of Steel Under PLI Scheme

26 Mar 2025 , 11:24 PM

BMW Industries Ltd signed a Memorandum of Understanding (MoU) with the Ministry of Steel, Government of India, under Production Linked Incentive (PLI) Scheme 1.1 for speciality steel.

A new agreement signed on March 24, 2025, at Vigyan Bhawan, New Delhi, will now grant BMWIL manufacturing rights for various speciality steel products. These products include ‘Coated/Plated Steel Products of Metallic/Non-Metallic Alloy’ and ‘Al-Zn Coated (Galvalume)’ which will be manufactured from the company’s upcoming Greenfield Downstream Steel Complex in Bokaro, Jharkhand.

Bokaro facility play a centerpiece in BMWIL’s expansion plans, when it was first announced on March 19, 2025. It plans to fortify its production capabilities for local and global markets.

BMWIL has been appointed as the recipient of the PLI scheme, making it a key player in the Indian steel industry, aligning with the government’s strategy to encourage the production of speciality steel.

The project is strategically important for BMW Industries, said its managing director Harsh Bansal, adding that the new facility at Bokaro will create long-term value for the stakeholders while also being in line with the ‘Make in India’ and ‘Atmanirbhar Bharat’ initiatives.

Owing to this advantage, BMW Industries, based in Kolkata, a groundbreaker in the steel domain since 1981. They produce HRPO Coils, CR Coils, GP Coils, GC Sheets, MS and GI pipes, TMT rebars, and etc. BMWIL is a West Bengal and Jharkhand based joint venture with Steel Authority of India Ltd (SAIL), which has also fortified their market sharing in the India.