JSW Building Systems, a wholly owned subsidiary of JSW Steel and UK-based Sever-filed Reeve Structures a wholly owned subsidiary of Severfield Rowen Plc made formalization of a joint venture company to create a significant steelwork business based in Bellary district of Karnakata.
The JV Company will be called JSW Severfield Structures & will have 50:50 equity participation. The project having a capacity of 35000 tonnes per annum is estimated to cost 30 million (INR 220 Crores) 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 (close to INR 400 Crores).
This was announced by the company during the trading hours on 17 November 2008.
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