Toshiba JSW Turbine and Generator, a joint venture between Toshiba of Japan and JSW Group of India, has signed a deal with the Japan Bank for International Cooperation (JBIC) for a $90- million loan for financing its upcoming facility in Chennai.

It should be noted that the Chennai land site will be Toshiba Group's first production base for manufacturing steam turbines and generators outside Japan. The upcoming plant will manufacture medium- to large-size steam turbines and generators for thermal power plants with a generating capacity from 500 mw to 1,000 mw.

The Japanese firm holds 75 per cent stake in the JV while JSW Energy Ltd has 20 per cent and JSW Steel Ltd 5 per cent stake respectively. The company expects an independent production sale of 3,000 mw per year.

The Chennai plant is expected to go on stream in early 2011.