Bansal Wire Subsidiary Allotted Land for Steel Rod Factory

BWI Steel Pvt. Ltd., a wholly-owned subsidiary of Bansal Wire Industries, has been allotted 1,70,000 sq.m of land in Sanand, Gujarat for setting up its Steel rod and wire manufacturing unit. The company had requested Gujarat Industrial Development Corporation (GIDC) for 2,00,000 sq.m of land at GIDC estate, Sanand-II.

BWI Steel’s new unit is a step towards backward integration, and a move to expand reach in Western India by Bansal Wire Industries. During the company’s Q3 FY-25 earnings call, Mr. Pranav Bansal, MD and CEO of Bansal Wire Industries, explained, “…for backward integration, the raw material anyway comes from the West. So even today, even if I have a plant within the Northern part of India, I still have to buy from West. So I am only going towards my raw material source and towards 25% in the market”. He added that currently, about 25% of the company’s sales come from Gujarat, and a manufacturing facility in the state would help the company get closer to this market and serve the region better.

Bansal Wire Industries is a major Indian manufacturer of Steel wire, and as per the company, it commands 20% of Stainless Steel wire market share in India.