JSW, Toshiba to form joint venture
Toshiba will hold a 75% stake in the JV, expected to be formed next month with an initial capital of Rs 200 crore.
By TNN |
MUMBAI: JSW Group on Wednesday announced a joint venture with Japanese major Toshiba to manufacture and market super-critical steam turbines and generators for thermal power plants in India. Toshiba will hold a 75% stake in the JV, expected to be formed next month with an initial capital of Rs 200 crore, while the remaining 25% will be controlled by JSW. The JV will invest nearly Rs 1,000 crore.
JSW Energy joint MD & CEO SS Rao said: ���This alliance is aimed at giving us an advantage in the Indian energy sector. The JV is aimed at responding to expanding electricity demand in tandem with India���s economic growth.��� Atsuhiko Izumi, executive vice-president of Toshiba���s Power Systems Company, said: ���This is a significant step for Toshiba, one that will give us a firm foothold in the Indian market for thermal power generation.���
Of the JSW group���s 25%, JSW Steel will hold a 5% stake while JSW Energy will control 20% stake.
The JV partners are now seeking a site of some 400,000 square meters on which the facilities will be developed. Keihin Operations, Toshiba���s power equipment production facility in Yokohama, Japan, will complement the JV���s effort to ramp-up the manufacturing process in the beginning, as the JV aims to establish an independent production scale of 3,000 mw a year.
SS Rao, joint managing director & CEO, JSW Energy said: ���This alliance is aimed at giving us an advantage in the Indian energy sector. The JV is aimed at responding to expanding electricity demand in tandem with India���s economic growth.��� Atsuhiko Izumi, executive vice president of Toshiba���s Power Systems Company said: ���This investment is a significant step for Toshiba, one that will give us a firm foothold in the rapidly growing Indian market for thermal power generation.���
Driven by strong economic growth, the Indian power generation equipment market is expected to see demand growth of 15,000-16,000 mw per year for the next decade. Coal-fired thermal power stations will account over 60% of the capacity growth, far surpassing other energy sources.
JSW Energy joint MD & CEO SS Rao said: ���This alliance is aimed at giving us an advantage in the Indian energy sector. The JV is aimed at responding to expanding electricity demand in tandem with India���s economic growth.��� Atsuhiko Izumi, executive vice-president of Toshiba���s Power Systems Company, said: ���This is a significant step for Toshiba, one that will give us a firm foothold in the Indian market for thermal power generation.���
Of the JSW group���s 25%, JSW Steel will hold a 5% stake while JSW Energy will control 20% stake.
The JV partners are now seeking a site of some 400,000 square meters on which the facilities will be developed. Keihin Operations, Toshiba���s power equipment production facility in Yokohama, Japan, will complement the JV���s effort to ramp-up the manufacturing process in the beginning, as the JV aims to establish an independent production scale of 3,000 mw a year.
SS Rao, joint managing director & CEO, JSW Energy said: ���This alliance is aimed at giving us an advantage in the Indian energy sector. The JV is aimed at responding to expanding electricity demand in tandem with India���s economic growth.��� Atsuhiko Izumi, executive vice president of Toshiba���s Power Systems Company said: ���This investment is a significant step for Toshiba, one that will give us a firm foothold in the rapidly growing Indian market for thermal power generation.���
Driven by strong economic growth, the Indian power generation equipment market is expected to see demand growth of 15,000-16,000 mw per year for the next decade. Coal-fired thermal power stations will account over 60% of the capacity growth, far surpassing other energy sources.
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