BMWIL Secures ₹500 Cr for Bokaro Steel Plant

BMW Industries has achieved financial closure by securing ₹500 crore in debt financing from a consortium of banks led by State Bank of India, with participation from HDFC Bank and Yes Bank, to fund its greenfield downstream steel complex in Bokaro, Jharkhand.

The funds will be used to develop a state-of-the-art facility with an annual capacity of 3,00,000 tonnes of cold-rolled full hard coil, 5,00,000 tonnes of galvanized coil, and 2,00,000 tonnes of color-coated coils. The project supports BMWIL’s strategic plan to expand downstream steel processing capacity and strengthen its presence in global markets.

Phased operations are expected to begin in early FY27. Strategically located near major ports, the Bokaro facility will cater to both domestic demand and international exports, reinforcing BMWIL’s long-term growth strategy amid strong downstream steel sector demand.

News by Rahul Yelligetti.