The new plant will have an annual production capacity of 175,000 metric ton of rebar, which will be produced by the hot rolling of steel billets manufactured through the electric arc furnace route.
JSW Steel will directly own 49 percent in the new plant while the remaining 51 percent will be held by the joint venture company.
The joint venture company is aiming to tap demand for construction steel, mainly in Georgia, Armenia, Azerbaijan and Russia, and also in other East European and ex-Soviet Union states.