The largest cement maker of India, ACC would not go for its expansion plans of ready-mix concrete (RMC) business following low demand due to global slow down. Earlier, ACC planned to spend Rs 600-crore for RMC used by developers in residential projects.

The Chief Executive Officer of ACC, Hans Fuchs said, "We have completely put on hold our capacity enhancement for an indefinite period. Due to the credit crunch, demand from developers has fallen drastically. ACC Concrete had planned to invest Rs 600 crore to add 200 plants across the country by 2012." He asked for easy home loans to increase demand in the reality sector.

However, it would go for its planned expansion program of increasing the capacity to 30 million tonnes by 2010. It would add tree more plants in the country in coming times to increase its production capacity.

The company has also decided to stop hiring owing to decline in production activities amid global financial crisis. It had recently retrenched 165 people from its pay-roll last month in a line with its cost cutting drive.