JSW Steel - Outcome of Board Meeting
JSW Steel Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 05, 2008, inter alia, has transacted the following:
- Pre-Engineered steel buildings(PEBs) are gaining momentum in India. The Indian Corporates implementing large projects are increasingly using the Pre-Engineered steel buildings due to the distinct advantage of saving in construction time of about 30 to 50% in total project schedule, better look and durability. Considering the same, the Board has approved the proposal to set up subsidiary Company, to manufacture and sell Pre-Engineered building structures.
The PEBs will consume steel plates, galvanized, colour coated and galvalume products thus giving a captive buyer for JSW Steel. In addition, this will be an opportunity for JSW Steel to enter into high-end solutions using Steel products as the base.
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