Indian steelmaker JSW Steel has announced that it is planning to set up a second steel processing center in Pune, India's automobile hub, with its joint venture partner Tokyo-based Marubeni Itochu Steel Inc (MISI). The new steel processing center will be built with an investment of INR 2.04 billion ($32.7 million).
JSW Steel stated that the first phase of the project is expected to come on stream by the financial year 2014-2015, with an installed capacity of 180,000 mt per year, and will be ramped up to 360,000 mt per year in the second phase.
JSW MI Steel Service Center, the joint venture company formed in 2011 between JSW Steel and Marubeni Itochu Steel Inc, is equipped to process flat steel products such as hot rolled, cold rolled and coated products for automotive, white goods, construction and other value-added segments.