NEW DELHI: BMW Industries has begun manufacturing colour-coated steel to meet growing domestic demand from key sectors such as infrastructure, auto and consumer goods, the company's Managing Director Harsh Bansal said.
The new colour-coated steel line, commissioned on Monday, is part of the company's ongoing Rs 800-crore expansion plan at Bokaro in Jharkhand, aimed at offering special steel products, Bansal said.
Kolkata-based BMW Industries has until now manufactured steel coils, sheets, pipes and TMT rebars.
"We have commenced the first phase of our greenfield downstream steel complex with the colour coating line. With this, we have joined the select group of producers in India. The line has been set up as part of the government's PLI Scheme for Speciality Steel," he said.
Launched in 2021 by the steel ministry with an outlay of Rs 6,322 crore, the first round of the PLI Scheme aims to promote the manufacturing of value-added steel grades in the country and help the Indian steel industry mature in terms of technology and move up the value chain.
Colour-coated steel is a pre-painted metal product having structural strength with a protective metallic and organic paint coating for superior corrosion resistance.
Bansal said the demand for the high-end product is growing in sectors such as infrastructure, construction, consumer goods, automobile, renewables and defence.
"Presently, we cater to the domestic market, and based on market opportunities and demand assessment, we may explore and tap international markets in due course," the MD said.
He added that more coated capacity lines will come online in the near future under the ongoing 5 lakh-tonne greenfield downstream steel complex project.
Bansal said the demand for the high-end product is growing in sectors such as infrastructure, construction, consumer goods, automobile, renewables and defence.
"Presently, we cater to the domestic market, and based on market opportunities and demand assessment, we may explore and tap international markets in due course," the MD said.
He added that more coated capacity lines will come online in the near future under the ongoing 5 lakh-tonne greenfield downstream steel complex project.