JSW Cement delays expansion and listing plans

India’s JSW Cement has deferred its expansion plans by around 6-12 months and further delayed its listing on the bourses. The company’s plans would have seen it reach 25Mta of capacity by 2023.

"As a result of the current economic situation, our expansion plans are being deferred by six to 12 months. But these will happen for sure," said Nilesh Narwekar, CEO of JSW Cement.

"As of now, we do not need to raise capital and the current economic situation is also not conducive. We want to have certain scale of operations and a certain level of EBITDA before we go for listing. But when and as it happens, it will be a big listing," added Mr Narwekar.