Joint Venture10 Feb 2026, 08:05 pm
Bansal Wire Industries' Subsidiary Signs MoU with Ministry of Steel under PLI Scheme
AI Summary
Bansal Wire Industries Limited has announced that its wholly owned subsidiary, BWI Steel Private Limited, has entered into a Memorandum of Understanding (MoU) with the Ministry of Steel (MoS), Government of India. The MoU is part of the Production Linked Incentive Scheme 1.2 for Specialty Steel. BWI Steel Private Limited will invest Rs. 70.00 Crores over two financial years to undertake capacity addition for manufacturing stainless steel wire with a committed unit capacity of 70000 tonnes per year. The investment is aimed at establishing and expanding new manufacturing facilities, achieving production targets, and complying with all guidelines, conditions, obligations, and requirements of the PLI Scheme.
Key Highlights
- BWI Steel Private Limited has signed an MoU with the Ministry of Steel, Government of India under the PLI Scheme 1.2 for Specialty Steel.
- The subsidiary will invest Rs. 70.00 Crores over two financial years for capacity addition in manufacturing stainless steel wire.
- The committed unit capacity is 70000 tonnes per year.
- The investment aims to establish and expand new manufacturing facilities and achieve production targets.
- The MoU is part of the Government of India's initiative to promote specialty steel production.