JSW Steel, UK’s Severfield to float jt venture

18 Nov 2008

JSW Steel has entered into a joint venture with UK-based Severfield Reeve Structure through its wholly owned subsidiary, JSW Building Systems, to make structural steelwork for construction. The joint venture company, JSW Severfield Structure Ltd, will set up a 35,000-tonne manufacturing facility at Bellary, where JSW works is located, with an investment of Rs 220 crore. The debt-equity ratio would be 2:1.

The project is expected to begin in February and will be completed in 18 months. Turnover at full capacity will be close to Rs 400 crore. JSW would offer steel and market expertise while Severfield would offer its competence in design, manufacturing and fabrication.

Focus will be on the commercial segment such as airports, malls, and other infrastructure projects. Europe is said to have 70 per cent buildings made of steel and the US about 50 per cent, while it is between five and seven per cent in India.

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