JSW Steel Ltd forms a JV with a unit of UK Severfield-Rowen

JSW Steel unit forms JV with UK's Severfield.
JSW Steel Ltd said its unit has formed an equal joint venture with a unit of UK Severfield-Rowen, for a steel project. The project will be based in Bellary district in Karnataka and is estimated to cost 30 million pounds, with a capacity of 350,000 tonnes annually. It will be funded through a mix of two-thirds debt and the rest equity. The revenues at full capacity is expected to be over 4 billion rupees, the Indian firm said. "The JV will be involved in the design, production and erection of structural steelwork to principally service the Indian markets," the Indian steelmaker said in a statement.