JSW to form power plant joint venture

Indian steelmaker JSW Steel Limited disclosed that it would establish a power plant in joint venture with JSW Energy Limited. JSW will invest Rupees 1.25 billion ($27.7 million) for a 26 percent stake in the joint venture. In addition, JSW said that it would shut down its hot rolled mill in the southern state of Karnata for about 30 days to modernize the plant.