JSW, Severfield to set up plant in Karnataka

JSW Building Systems Ltd, a subsidiary of JSW Steel, has signed a joint venture agreement with UK-based Severfield Reeve Structures to set up a Rs 220 cr steelwork plant in Bellary, Karnataka.

The partners will have 50% stake each in the venture with a capacity of 35,000 tonne per annum. It will be funded through a mix of two third debt and one third equity. The annual turnover of the plant at full capacity will be over Rs 400 cr.