Toshiba-JSW, 75:25 joint venture between Japan based Toshiba Corporation and the O P Jindal owned JSW group, would invest $160 million to set up a power equipment manufacturing unit in Tamil Nadu, within next five years.

The government would provide land on lease basis, to set up manufacturing facility as per MoU signed between JV and TN government on Tuesday; in the presence of TN Chief Minister, M Karunanidhi and officials of Toshiba.

Toshiba Corporation will be second Japanese company, after the auto major, Nissan to invest in the state. The company, a leading manufacturer of steam turbines and generators, has a manufacturing unit in Yokohama near Tokyo, to cater to the needs of over 40 countries worldwide.

Itaru Ishibashi, the Managing Director of JSW, said: "Facility construction is scheduled to start this month, and manufacturing by January 2011." The company will manufacture turbines in the range of 500-1000 MW range to cater needs of super-critical thermal power plants in the domestic market.

Toshiba JSW Joint MD, S S Rao said: " With support from the TN government, we expect to also build a state of the art heavy equipment manufacturing facility near Chennai and hopes to contribute to the further development of local industry and promote stable electricity supply."