What was the strategy behind JSW entering into a JV with Severfield Rowen Plc?
In India, construction is just at an inflexion point, because India needs more growth and therefore, has high ongoing demand. Currently, if you observe the typical Indian mix of construction, the ratio is much more for concrete than steel as compared to developed countries. This high ongoing demand and the ability to substitute products provide tremendous scope in India for using steel in construction. We wanted to capture this opportunity. The Severfield Rowen group has a proven experience in the UK and is one of the largest structural fabrication companies in Europe. They have huge experience in design, structural fabrication and erection and that’s why we wanted to forge a JV with them considering their technology and experience. Will you give steel at a concessional price to JSSL? No we don’t. It is going to be an arm-strict transaction. JSW Severfield Structures Ltd will be a customer of JSW Steel, like any other customer and the price offered will be at a normal price. We will ce
