JK Cement Expands Northern India Foothold with Saifco Cements Acquisition

JK Cement Ltd. has signed a joint venture agreement with Saifco Cements, acquiring a 60% stake to bolster its presence in Kashmir. Strategic collaboration aims to capitalize on Kashmir's infrastructural growth potential, leveraging Saifco's production capabilities and rich limestone reserves, marking a vital expansion for JK Cement in Northern India.

JK Cement Ltd., a leading player in India's building materials sector, has announced a strategic joint venture with Saifco Cements Pvt. Ltd. The deal sees JK Cement acquiring a 60% stake in Saifco for INR 174 Crores, as part of its strategy to expand its footprint in Northern India.

This acquisition is poised to enhance JK Cement's presence in the burgeoning Kashmir region, where Saifco Cements has a considerable market share and robust manufacturing capacity. The move is well-aligned with governmental initiatives aimed at boosting infrastructure in the region and promises to accelerate JK Cement's growth trajectory.

Dr. Raghavpat Singhania, Managing Director of JK Cement, emphasized the cultural and strategic significance of Jammu & Kashmir, projecting the acquisition as a milestone in the company's expansion plans. The deal, subject to regulatory approvals, will enable both companies to leverage Saifco's limestone reserves to scale up production capacity over the next five years.

(With inputs from agencies.)