JSW Steel is likely to invest Rs 100 crore into JSW Severfield Structures,
its UK based JV with Severfield Reeve Structures, UK.
JSW is likely to acquire an additional 25,000 shares of the JV with the
planned investment. Currently, the company is waiting for the investor approval
for the proposed equity infusion.
In 2008, JSW Building Systems, a JSW subsidiary, had formed the 50:50 JV with
Severfield to set up a structural steelwork factory in Bellary, Karnataka. The
plant with a 35,000 tonne capacity will manufacture pre-engineered steel. The
newly planned entity is estimated to cost Rs 250 crore. The company is currently
giving finishing touches to its plans and has started placing orders for
machinery and equipment.
Also See:
JSW Steel
commissions blast furnace at Vijaynagar facility (19-Feb-09)