JSW Building Systems Ltd, a subsidiary of JSW Steel Ltd, and UK-based Severfield Reeve Structures have formed a joint venture company to a create significant steelwork business based in Bellary, Karnakata.
JSW Severfield Structures Ltd is the JV Company between JSW Steel and Severfield Reeve, and will have 50:50 equity participation. The project has a capacity of 35,000 tonnes per annum at estimated cost 30 million pounds (Rs 220 crore) and will be funded through a mix of two third debt and one third equity. The turnover at full capacity will be over 50 million pounds (close to Rs 400 crores). Severfield Reeve Structures is a subsidiary of Severfield-Rowen Plc, having the annual turn over 350 million pounds. Severfield-Rowen is the UK and European market leader in structural steelwork. 'Steel buildings are gaining momentum in India. Indian Corporates are increasingly implementing large projects using steel buildings due to the distinct advantage of saving in construction time, enhanced aesthetics and durability. The JV business will consume steel plates, galvanised products thus providing an added value route for JSW Steel," said Sajjan Jindal, Vice Chairman & Managing Director JSW Steel Ltd. --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Kences1" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/kences1?hl=en -~----------~----~----~----~------~----~------~--~---
