JSW Steel's JV with Japan co to begin Palval facility by FY'18

NEW DELHI: A joint venture steel service centre of JSW Steel and Japan's Marubeni-Itochu Steel will begin operations at Palval, Haryana by the end of the ongoing fiscal.

"MISI JV started the project work for its steel service centre in Palval, Haryana, with 0.18 MTPA initial capacity. This facility is expected to be commissioned by end of 2017-18 fiscal," JSW Steel said in a statement.

It further said the service centre is equipped to process flat steel products, such as hot rolled, cold rolled and coated products.

Such products offer just-in-time solutions to automotive, white goods, construction and other value-added segments, it added.

In March 2015, the JV company had started commercial operation of a steel service centre near Pune with 0.18 MTPA initial installed capacity.

MISI JV incurred a profit of Rs 0.2 crore during 2016-17 in view of lower capacity utilisations. It reported a loss of Rs 5 crore in the previous fiscal, the company said.