BMW Industries signs MoU with the Ministry of Steel, Government of India, under the PLI 1.1 for Specialty Steel

BMW Industries Limited (BMWIL), a leading manufacturer in the downstream steel sector, announced today 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 formalized 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. The aforementioned investment under PLI 1.1 relates to this Greenfield project.

Commenting on the occasion, Mr. 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, Shri 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."

Shares of BMW Industries Ltd was last trading in BSE at Rs. 45.03 as compared to the previous close of Rs. 45.12. The total number of shares traded during the day was 478348 in over 1883 trades.

The stock hit an intraday high of Rs. 47.45 and intraday low of 44.80. The net turnover during the day was Rs. 21942648.00.

Source : Equity Bulls

Keywords

BMWIndustries INE374E01021 MoU PLIScheme