BMW Ind to Boost Steel Offerings for Auto, Infra Sectors with ₹803 Crore Investment.

BMW Industries is building a new 0.5 million-tonne cold rolling unit in Jharkhand with an investment of ₹803 crore. The project is designed to increase the company's production of high-end steel products for the automotive and infrastructure sectors.

Managing Director Harsh Bansal told PTI that the investment is being made under the government's Production-Linked Incentive (PLI) Scheme for Speciality Steel.

The PLI scheme, launched by the steel ministry in 2021 with an outlay of ₹6,322 crore, aims to promote the manufacturing of higher-value steel grades within India. The initiative is intended to help the domestic steel industry advance its technology and move up the value chain.