Bokaro: BMW Industries Ltd. has announced plans to set up a new steel plant in Bokaro, Jharkhand, with an investment of Rs 803 crore.
The project is expected to generate significant direct and indirect employment opportunities for thousands in the state.
According to Managing Director Harsh Bansal, the company will establish a cold rolling unit with a capacity of 5 lakh tonnes. The investment is being made under the Production Linked Incentive (PLI) scheme introduced by the Ministry of Steel in 2021. The scheme is aimed at boosting production of value-added steel and driving technological upgrades in India’s steel sector.
The upcoming plant will focus on producing colour-coated materials along with advanced alloy and non-alloy coated products. These will serve critical sectors such as infrastructure, construction, automotive, renewable energy, and defence. Bansal stated that production of colour-coated steel is expected to begin in the third quarter of the current financial year, with revenues anticipated from the fourth quarter.
Currently, BMW Industries manufactures TMT bars, pipes, and tubes, as well as cold-rolled and galvanized products. The Bokaro expansion will allow the company to strengthen its portfolio and cater to high-demand segments.
The project has already received clearance from the Jharkhand State Pollution Control Board. Construction is expected to be completed within two years, with the first unit scheduled to start operations in the financial year 2026.
