JSW STEEL INKS JV DEAL WITH MARUBENI ITOCHU
October 1st, 2010
BY RAGHAVENDRA VERMA
A NEW USD25 million steel processing centre, under the name of JSW MI Steel Service Center Pvt Ltd, is to be developed in north India as a result of a 50:50 joint venture (JV) between India's JSW Steel and Japan's Marubeni Itochu Steel (MISI).
The two companies have announced in a joint communiqué that half the funds for the project will come from the equity of the JV, while the rest will be borrowed from banks.
Production at the new facility is slated to begin in 2013, with an expected annual production capacity of 180,000 tonnes of ...
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