BMW Industries to Invest ₹803 Cr in Jharkhand Plant, Eyes High-End Steel Market

Steel maker BMW Industries will invest ₹803 crore to set up a 0.5 million tonne (MnT) cold rolling complex in Bokaro, Jharkhand, as part of the government’s Production-Linked Incentive (PLI) Scheme for speciality steel. The move, the company says, is aimed at strengthening its presence in the high-end steel segment.

The new facility will produce colour-coated materials and advanced alloy and non-alloy coated products for use in infrastructure, automobiles, renewables, defence, and construction. “We are aligning with the Make in India vision to ensure high-end steel products are made domestically,” Managing Director Harsh Bansal said.

BMW Industries plans to roll out colour-coated products by the third quarter of FY26, with revenues beginning from the fourth quarter. Production of advanced non-alloy coated products is scheduled for the first quarter of FY27.

The ₹803-crore project will raise the company’s overall manufacturing capacity to 2.5 MnT. Of the total investment, around ₹500 crore will come through debt and the balance from internal accruals. Bansal said the brownfield expansion will generate significant employment opportunities and contribute to regional development.

BMW Industries currently manufactures TMT rebars, pipes and tubes, and cold rolled and galvanised products. With the new project, it is eyeing higher-value segments, supported by the PLI scheme launched in 2021 with a ₹6,322-crore outlay to promote value-added steel production in India.

Commenting on the measures taken by the government, Bansal welcomed a 12 percent safeguard duty on imports of certain flat steel products imposed recently by the Centre. It will prevent the dumping of nearly 0.7 million tonnes into India and improve domestic capacity utilisation, which is hovering between 65 and 70 per cent.

Earlier this month, the Directorate General of Trade Remedies (DGTR) under the Commerce Ministry suggested a three-year safeguard duty on select flat steel imports so that Indian manufacturers are protected against a sudden surge in shipments.

“Through this expansion, we are not only increasing capacity but also moving up the value chain. The aim is to provide world-class, made-in-India steel for high-growth sectors,” Bansal said.