India’s BMW Industries Limited (BIL) is to invest in a $92 million greenfield project for the production of value-added steel products at Bokaro in the eastern state of Jharkhand, a company statement said on Monday, March 24.
The downstream value-added steel complex will have an annual production capacity of 300,000 mt of cold rolled full hard coils and sheets, 540,000 mt of galvanized coils and sheets, and 2,000 mt of colour-coated coils and sheets.
The company already owns the necessary industrial land for this greenfield project, which will be built in stages over two years. The first plant is anticipated to begin commercial operations in 2025-26, it said.
The project’s proximity to Haldia/Kolkata port, located at a distance of approximately 300 kilometers, will facilitate access to global markets, the company added.