The Tamil Nadu government has approved the Toshiba-JSW JV for setting up a
supercritical power equipment manufacturing facility near Chennai in Ennore
district.
The partners plan to pump in around Rs 800 crore for setting up the facility,
which will be able to manufacture 3,200 MW equipment annually.
The JV is likely to have an initial capital of $50 million (approx Rs 250
crore) wherein Toshiba will hold 75 per cent, O P Jindal group will have 25 per
cent while JSW's stake will be held by group companies JSW Steel (5 per cent)
and JSW Energy (20 per cent). The facility is expected to commence production by
2011.
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