JK Cement Acquires 60% in Kashmir Valley’s Saifco Cements

New Delhi, January 25, 2025: JK Cement Ltd has entered into a joint venture agreement with Saifco Cements Pvt. Ltd., one of the leading cement brands in the Kashmir valley and having an enterprise valuation of ₹290 crore. JK Cement will acquire 60 per cent stake in Saifco Cements at a value of ₹174 Crore.

This acquisition is a strategic step in expanding JK Cement’s presence in one of the fastest growing regions of the country. Saifco Cements brings strong manufacturing capabilities and an impressive presence in Jammu and Kashmir market, which will scale up to meet the business plan objectives for JK Cement over the next few years. This move aligns with the government’s focus on boosting infrastructural growth in Jammu and Kashmir region.

Expressing his delight, Managing Director, JK Cement Ltd, Raghavpat Singhania said: “Known for its rich culture and resilience, Jammu & Kashmir brings a special meaning to us, this acquisition is a significant step forward in accelerating JK Cement’s growth journey. We are committed to ensuring a seamless and successful integration of our businesses, bringing together our combined expertise and experience. The state of J&K holds not only holds strategic importance but also has immense potential for infrastructural development and partnering with Saifco Cements is a step towards solid cementing goal to manufacture the best for our customers and nation.”

Saifco’s integrated manufacturing unit at Khunmoh in Srinagar is spread across 54 acres of land and has a clinker capacity of 0.26MTPA and grinding capacity of 0.42MTPA. It has captive limestone reserves spread on an area of 144.25 hectares with a total minable reserve of 129MnT.