Toshiba, JSW form JV for manufacturing critical steam turbines

New Delhi, May 7 (UNI) Toshiba Corporation and JSW Steel have entered into a joint venture to manufacture and market super critical steam turbines and generators for thermal power plants in the country.

''Under the agreement, the new comapny will have a initial capitalisation of 50 million dollars with the Toshiba Group holding 75 per cent stake and the rest being owned by the JSW Group,'' a statement said today.

JSW Steel Ltd and JSW Energy Ltd will hold the 25 per cent stake in a five per cent and 20 per cent break up.

The scope of the JV includes design, manufacture, marketing, and maintainance services of mid to large sized steam engines and turbines.

The JV is now looking for a suitable site to set up its facility and will invest 250 million dollars for the project. It aims to establish an independent production scale of 3,000 MW a year.

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