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News JK Cement to acquire 60% stake in Saifco Cement

JK Cement to acquire 60% stake in Saifco Cement

Written by Global Cement staff 27 January 2025
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India: JK Cement has entered a joint venture with Saifco Cement, through which it will expand its offering in northern India. JK Cement will acquire a 60% stake in Saifco Cement for US$20.1m to expand in Jammu and Kashmir, where Saifco owns limestone reserves of 129Mt across 144 hectares. The acquisition will involve both the companies working together to increase the capacity of cement production by leveraging the expanse of the limestone reserves in the next five years, according to a press release.

JK Cement CEO Madhav Singhania said "Cement demand typically leads economic expansion by a factor of 1.2 in regions with significant infrastructural development opportunities, and Kashmir is undoubtedly one of these regions."

Last modified on 29 January 2025
Published in Global Cement News
Tagged under
  • India
  • JK Cement
  • Saifco Cements
  • Acquisition
  • Stake
  • Expansion
  • Limestone
  • Asia
  • GCW694
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