In a landmark move, JK Cement has acquired a 60% stake in Saifco Cements, becoming the first major cement manufacturer to establish operations in Srinagar. The ₹150 crore deal marks a strategic expansion aimed at boosting regional infrastructure and employment.
🔴 Key Highlights:
- JK Cement gains management control, making Saifco Cements its subsidiary.
- Saifco’s integrated plant in Khunmoh, Srinagar, has a clinker capacity of 0.26 MnTPA and grinding capacity of 0.42 MnTPA.
- JK Cement plans to invest in eco-friendly manufacturing, reducing the carbon footprint of cement production.
- The acquisition aligns with the government’s vision for robust infrastructure development in Jammu & Kashmir.
📢 Leadership Statements:
- JK Cement MD Raghavpat Singhania: “The Jammu & Kashmir market has untapped potential for local manufacturing. With our combined expertise, we aim to transform the region and ensure benefits for the communities.”
- Saifco Cements Director Suhail Manzoor Guna: “This alliance reflects our shared vision of advancing infrastructure in Kashmir while creating meaningful opportunities for its people.”
⚠️ Strategic Impact:
- Boosts local employment, creating direct and indirect job opportunities.
- Encourages further investments in the region, strengthening J&K’s industrial ecosystem.
👉 What do you think? Will JK Cement’s expansion transform Srinagar’s infrastructure landscape? Drop your thoughts in the comments!
🔴 Share this post to keep everyone informed! 🚀🔥
