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BMW Industries has signed a Memorandum of Understanding (MoU) with the Ministry of Steel, Government of India, under the Production Linked Incentive (PLI) Scheme 1.1 for specialty steel.
The agreement was formalized on March 24, 2025, at Vigyan Bhawan, New Delhi. As an approved beneficiary of the PLI scheme, the company will manufacture "Coated/Plated Steel Products of Metallic/Non-Metallic Alloy" and "Al-Zn Coated (Galvalume) products" at its upcoming Greenfield Downstream Steel Complex in Bokaro, Jharkhand.
To support this initiative, the company's Board of Directors recently approved a capital expenditure of ₹803.47 crore, which will be funded through a combination of internal accruals and debt.
News by Rahul Yelligetti.
