JSW Steel Ltd.

JSW Steel has decided to reduce its Capital expenditures (capex) target by about 45 percent to Rs 9,000 crore for 2020-21 against its earlier plan of spending Rs 16,340 crore, due to the lockdown and its subsequent extensions, project activity at various sites were severely constrained by the non-availability of required manpower and material. At 9,000 crore, the capex target is about 12 percent lower compared to the company's Rs 10,200-crore spend during 2019-20.

The company has undertaken a detailed exercise to prioritise all planned and discretionary spends. The objective is to conserve liquidity, ensure that strategic projects which are in advanced stages of completion are commissioned on priority basis.

JSW Steel is one of the largest steel manufacturing companies in India having units in Karnataka and Maharashtra producing crude steel, long steel and flat steel products.