Indian Express

Express India

Screen

Loksatta

Express Cricket

Kashmir Live

Biz Publications
 
| Make this your homepage | Feedback

Japan's Toshiba to form India power venture with JSW

Agencies
Posted online: Tokyo, May 7: IST


Font Size

Print

Feedback

Email

Discuss
Rate This Article
1 2 3 4 5 6 7 8 9 10
Rating:  0

Wednesday, May 07, 2008 at 1309 hrs Japan's Toshiba Corp said on Tuesday that it had agreed to tie up with India's JSW Group to manufacture and market steam turbines and generators for thermal power plants in India.

Toshiba and JSW, which is part of OP Jindal Group, plan to invest about USD 250 million in plant and manufacturing equipment for the joint venture, which will be owned 75 per cent by Toshiba and 25 per cent by JSW.

Manufacturing operations are expected to start in September 2009, the Japanese company said in a statement.

The deal will give Toshiba "a firm foothold in the rapidly growing Indian market for thermal power generation," executive vice president Atsuhiko Izumi said in a statement.

"We want to rapidly build up our presence in a fast growing market," he added.

Toshiba last year won a large contract to supply five large super-critical steam turbines and generators to India's Tata Power.

The Japanese group has positioned energy as one of its core businesses. It bought US nuclear plant maker Westinghouse Electric from British Nuclear Fuels in 2006 in one of the largest Japanese overseas acquisitions in years.

Ads by Google

Post Comments

Comments: (Limit 3,000 characters)
Name
Message
Email ID
Subject
TERMS OF USE:
The views represented here are not neccesarily endorsed by www.financialexpress.com and its allied websites. All messages will be moderated and no message that has inflammatory, abusive, derogatory language or any language deemed unfit for publication by the editor will be displayed. Though it will be endeavoured that as many messages as possible be displayed, there will be time lag between the submission and publication of the messages. The website reserves the right to publish or reject any message.
I agree to the terms of use.

Comments
Shaadi Matrimonials
Get Marriage Proposals by Email EVERYDAY!
Register FREE on Naukri.com.
200000+ Hot Job Openings!
Book International flights
& get 10000 Money Back
Flowers & Gifts
Send flowers & Gifts
Express Classifieds
Post and view free classifieds ad
Express Astrology
Know what's in the stars for you