BMW Industries Targets Steel Manufacturing Expansion in Jharkhand

BMW Industries is on the verge of increasing its operations in Bokaro, Jharkhand. Jharkhand is the nation's second highest steel producing state. The project includes upgradation of Downstream Steel Complex with the production capacity of 540,000 TPA of Galvanized Coil/Sheet, 300,000 TPA of Cold Rolled Full Hard Coil/Sheet and 200,000 TPA of Color Coated Coils/Sheets.

The total estimated cost of the project is Rs. 803.47 crore, and it will be funded through a mix of Internal Accruals and Debt. The Company already owns to the required land, which is designated for industrial use and will serve as the site for this greenfield project.

This expansion will help the Company further strengthen its current strengths in downstream steel processing and serve increased demand throughout the nation. The location of the project, close to the Haldia/Kolkata port at a distance of around 300 kms, will help provide access to international markets. The site also has the benefit of being near raw material sources, with the advantage of a steady supply chain.

The Company has the necessary technical, commercial, and management capabilities to implement this project effectively. The project is anticipated to become operational in phases within the next 2 years, the first plant to initiate commercial production in FY26.

The Board of Directors is of the opinion that the project proposed will bring long-term value for the Company and its stakeholders by solidifying its foothold in the downstream steel processing business and widening its market outreach. Additional information on the project’s progress will be disseminated in accordance with relevant regulation.