BMW Industries, Steel Ministry Sign MoU for Specialty Steel

27 Mar 2025 CW Team

BMW Industries (BMWIL), a leading manufacturer in the downstream steel sector, announced that it 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 formalised on March 24th, 2025, at Vigyan Bhawan, New Delhi.

As a qualified beneficiary of the PLI scheme, BMWIL will manufacture ‘Coated/Plated Steel Products of Metallic/Non-Metallic alloy’ & ‘Al-Zn Coated (Galvalume’ products at its upcoming Greenfield Downstream Steel Complex in Bokaro, Jharkhand.

Commenting on the occasion, 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. 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”

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