India, March 25 -- BMW Industries Limited (BMWIL), a prominent player in the downstream steel sector, 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 agreement was formalized on March 24, 2025, at Vigyan Bhawan in New Delhi.
As a qualified beneficiary under the scheme, BMWIL 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. This development aligns with the company's previously announced capital expenditure plans, detailed in a press release dated March 19, 2025, available on the BSE website.
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