JSW, Severfield in JV for steelwork plant in Bellary

New Delhi, Nov 17: JSW Building Systems, a group company of JSW Steel Ltd, on Monday, Nov 17 said it has entered into a joint venture (JV) agreement with UK-based Severfield Reeve Structures for setting up a steelwork plant in Bellary, Karnataka with an investment of Rs 220 crores.

The 50:50 joint venture will be called JSW Severfield Structures Ltd, it said in a statement. The plant, with a capacity to produce steelwork of 35,000 tonnes a year, will be funded through a mix of debt and equity, it added. Severfield Reeve is a wholly owned subsidiary of Severfield-Rowen Plc, the market leader in the structural steel group.

UNI