Steel stock in focus: BMW Industries signs MoU with Govt to boost speciality steel production in India

The small-cap steel stock engaged in manufacturing and processing steel products, BMW Industries Limited (BMWIL) has signed an MoU with the Ministry of Steel under the PLI Scheme 1.1 for Specialty Steel. The company will produce coated and plated steel products, including Al-Zn coated (Galvalume) steel, at its new Greenfield Steel Complex in Bokaro, Jharkhand. 

Shares of BMW Industries are trading higher by 1.81 pc at Rs 80.88.
 

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This partnership supports India’s “Make in India” and “Atmanirbhar Bharat” initiatives. BMWIL aims to strengthen its steel manufacturing capabilities, expand in domestic and global markets, and create long-term value for stakeholders while boosting India’s specialty steel production.

BMW Industries Limited runs several steel manufacturing and processing plants. Its annual total capacity is more than 2 million tonnes comprising coils, sheets, pipes, and rebars.

The company's major contribution to the supply chain of the steel sector is through sophisticated techniques including slitting, galvanisation, rolling, and cold rolling.

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