JSW Steel to set up steel processing centre in Pune

JSW Steel, the flagship company of $11 billion Indian conglomerate JSW Group, announced its plan to set up a second steel processing center in Pune with its JV partner Marubeni Itochu Steel Inc. Tokyo, (MISI).
The 1st Phase of the project is expected to come on stream by FY-2014 with an installed capacity of 180,000 tonnes per annum and will be scaled up to 360,000 tonnes per annum in phase two. The project will be set up at a capital cost of Rs. 204 crore and will be funded through 50 per cent equity and 50 per cent debt element.
Seshagiri Rao, Joint Managing Director, JSW Steel & Group Chief Financial Officer, said, “The rapid growth of the Indian steel industry offers tremendous opportunity for supply of high-end processed steel. We can leverage the global sales network of expertise of service center operations of MISI and the world-class technology products manufactured by JSW.”
The joint venture company is equipped to process flat steel products such as hot rolled, cold rolled and coated products with a view to offer just in time solutions to the automotive, white goods, construction and other value added segments.
In 2011, JSW Steel and Marubeni Itochu Steel Inc. have formed a JV to set-up a steel processing center near Palval, Haryana under the name of JSW MI Steel Service Center Pvt Ltd.

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