JSW Building Systems Ltd, a wholly owned subsidiary of JSW Steel Ltd UK based Severfiled Reeve Structures a wholly owned subsidiary of Severfield Rowen Plc, the market leader in structural steel group, announced the formalization of a joint venture Company to a create significant steelwork business based in Bellary district of Karnakata.

The JV Company will be called JSW Severfield Structures Ltd & will have a 50:50 equity participation. The project having a capacity of 35000 tonnes per annum is estimated to cost GBP 30 million (INR 220 Crores) and will be funded through a mix of two third debt and one third equity. The turnover at full capacity will be over GBP 50 million (About INR 400 Crores).

Mr Sajjan Jindal vice CMD of JSW Steel Ltd said "Steel buildings are gaining momentum in India. Indian Corporates are increasingly implementing large projects using steel buildings due to the distinct advantage of saving in construction time, enhanced aesthetics and durability. The JV business will consume steel plates, galvanised products thus providing an added value route for JSW Steel."

Mr. Tom Haughey CEO of Severfield-Rowen said "Severfield Rowen is delighted to be establishing a business in India with a partner such as JSW Steel, and is confident that it will provide the Group with a platform for significant growth in a region with large and growing infrastructure and construction markets."

Mr Jayant Acharya director of JSW Building Systems said "The JV will be involved in the design, production and erection of structural steelwork to principally service the Indian markets. The JV will offer a unique service to the construction industry with steel being provided in a new and competitive manner."

Mr Anshul Singhal CEO of JSW Building Systems Ltd said that "We can construct a high-rise tower in less than half the time that a concrete building takes. We are the first in India jointly launching a business of this magnitude. While the project is both innovative and futuristic at the same time the Indian market is ready for change.”

Severfield-Rowen has an annual group turn over GBP 350 million. Severfield-Rowen is the UK and European market leader in structural steelwork. The combined resources of our Group of Companies have the design, engineering skills and experience to handle complex projects over a diverse range of sectors. The Group provides the most complete service in he UK structural steel industry and is recognized as the best performing in its field. Some of the company's projects in the UK include
1. Oval Cricket Ground
2. London Heathrow Airport Terminal 5
3. Arsenal FC Emirates Stadium, London
4. Westfield White City Retail development in London.