BMW Industries Limited has recently tied up Rs 5 billion in debt financing from a consortium of leading banks to fund its Greenfield downstream steel complex at Bokaro, Jharkhand. The consortium is led by State Bank of India and includes HDFC Bank Limited and Yes Bank Limited.

The financing forms part of the company’s planned capital expenditure programme aimed at expanding downstream steel processing capacity and strengthening its long-term growth roadmap. The funds will be deployed towards the Bokaro project, which is scheduled to commence phased operations in early FY27.

The proposed Greenfield facility will have an annual capacity of 300,000 tonnes of cold rolled full hard coil and sheet, 540,000 tonnes of galvanised coil and sheet, and 200,000 tonnes of colour-coated coils and sheets. BMW Industries already owns the industrial land for the project. Strategically located around 300 km from the Haldia and Kolkata ports, the Bokaro facility is expected to support both domestic supply and export opportunities.

Commenting on the development, Harsh Bansal, Managing Director, said that the financial closure marks a key milestone for the Bokaro project and reflects a disciplined approach to capital deployment. He added that the structured funding framework will enable timely execution while maintaining balance sheet strength, and will enhance the company’s ability to deliver value-added steel products aligned with India’s manufacturing and infrastructure growth ambitions.