Mumbai, Oct 16 (PTI) Sajjan Jindal-controlled, JSW Cement Ltd today said it is investing around Rs 1,800 crore towards expansion of cement capacity to 20 million tonnes (MT) and looking at initial public offer (IPO) in 2019-20.Also Read - Mumbai Rains: Death Toll Rises to 31 in Landslide, House-collapse Incidents; NDRF Ends Search & Rescue Ops

“We expect huge demand for cement in the country and plan to expand our cement manufacturing capacity from 12.5 MT to 20 MT by 2020. We are adding 4.5 MT at our Dolvi unit in Maharashtra and 1.2 MT in Vijaynagar unit in Karnataka, apart from 1.2 MT adding in Odisha unit. We will incur capex of around Rs 1,800 crore for capacity expansion over the next three years period,” JSW Cement managing director Parth Jindal told PTI here. Also Read - Coronavirus in India News And Updates: Take Action Against Those Engaging in Black Marketing of Oxygen and Medicines, HC tells Delhi Govt

“We will come out with IPO in 2019-20 by diluting 15-20 per cent stake, depending on price band. We will wait for the outcome of general elections in 2019 and create healthy EBITDA profile before launching our IPO,” Jindal said. Also Read - Rhea Chakraborty Expresses Gratitude Towards 'Covid Warriors', Says 'Let's Go Mumbai'

Post-IPO, according to Jindal, the company will be targeting at reaching 30 MT capacity by 2025 and 50 MT by 2030, both through organic and inorganic growth.

Despite JSW Cement is one of the recent entrants into the cement market, it is aiming to be in top-5 cement players in India in the next 7-8 years, Jindal added.

The company will be increasing capacity in Dolvi plant from 1 MTPA to 2.2 MTPA by 2018 and further expanding it to 4.5 MTPA by 2019 to cater to the demand in the region. The company plans to incur capex of Rs 750 crore in two phases to expand capacity at Dolvi unit, JSW Cement chief financial officer Narinder Kahlon said.

The company said it has commenced its retail foray in West India region with the launch of Concreel HD in Maharashtra.

Jindal group has presence in steel, energy, cement, infra and is now looking at entering into paint sector by launching JSW Paints next year, he added.

This is published unedited from the PTI feed.