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September 07, 2008


JSW planning a plate mill in India with foreign partner

BS reported that JSW group is close to roping in foreign partners for its INR 2,000 crore plate mill project.

Mr Sajjan Jindal vice chairman of JSW said that a JV company would be formed for the plate mill project with a Japanese partner. He said that JSW would have a majority stake.

Mr Jindal told reporters that “The plate mill will call for USD 500 million of investment. I am in talks with a Japanese company for this project.

Mr Jindal added that the slabs for the shipyard and plate mill projects would come from JSW Bengal Steel, which is setting up a 10 million tonnes plant at Salboni. He said that “The first phase of 6 million tonnes would be on stream by June 2011. Around 1.5 million tonnes slabs from Bengal would go to the facilities acquired in the US.”

JSW group’s investment in the plate mill project would be through JSW Steel.