JK Cement Acquires 60 Per Cent Stake in Saifco Cements for Rs 1.5 Bn

09 Jun 2025 CW Team

JK Cement has announced the successful acquisition of a 60 per cent equity stake in Saifco Cements Private Limited, marking a strategic step to strengthen its presence in the Union Territory of Jammu & Kashmir. Valued at Rs 150 crore, the deal aligns with JK Cement’s long-term strategy to enhance operations and deepen market penetration across North India.

The acquisition involved purchasing shares from existing promoters along with fresh equity issued by Saifco. Following this transaction, Saifco has become a subsidiary of JK Cement, which will take over management control with immediate effect.

Saifco Cements, established in 1997, operates an integrated plant in Khunmoh, Srinagar, with a clinker capacity of 0.26 million tonnes per annum and grinding capacity of 0.42 million tonnes per annum. Its turnover stood at Rs 73 crore in FY 2024–25, compared to Rs 86 crore in FY 2023–24 and Rs 90 crore in FY 2022–23.

As part of the acquisition transition, Saifco’s board will be reconstituted to include three directors nominated by JK Cement alongside two existing directors from the promoter group.

The acquisition, conducted through cash consideration, is not classified as a related party transaction and complies fully with statutory and regulatory requirements. JK Cement noted that the move not only broadens its geographic reach but also supports its strategic priorities of capacity expansion and regional diversification.

This acquisition marks a significant milestone in JK Cement’s expansion journey, reinforcing its position as a leading player in India’s cement sector.

Infrastructure Energy

17 Dec 2025

Vedanta Aluminium Uses 1.57 bn Units of Green Energy in FY25

Vedanta Aluminium, India’s largest aluminium producer, recently reported consumption of 1.57 billion units of renewable energy in FY25, marking a significant milestone in its 2030 decarbonisation roadmap. The company also achieved an 8.96 per cent reduction in greenhouse gas (GHG) emissions intensity compared to FY21, reinforcing its leadership in India’s low-carbon manufacturing transition. During FY25, Vedanta Aluminium expanded its renewable energy portfolio through long-term power purchase agreements, strengthening its strategy to source nearly 1,500 MW of renewable power over the lon..

Oberoi Group to Develop Luxury Resort at Makaibari Tea Estate

EIH Limited, the flagship company of The Oberoi Group, has announced the signing of a management agreement to develop an Oberoi luxury resort at the iconic Makaibari Tea Estate in Darjeeling. The project marks a key milestone in the Group’s long-term strategy of creating distinctive hospitality experiences in rare and environmentally significant locations. Established in 1859, Makaibari is one of the world’s oldest tea estates and is globally recognised for its Himalayan landscape, primary forests and exceptional biodiversity. Spread across 1,236 acres, the estate houses one of the world�..

GHV Infra Secures Rs 1.09 Bn EPC Order in Jamshedpur

GHV Infra Projects Ltd, a fast-growing EPC company in India’s infrastructure and construction sector, has recently secured a Rs 1.09 billion work order in Jamshedpur, Jharkhand. Awarded by a reputed group entity, the contract covers end-to-end civil construction, mechanical, electrical and plumbing (MEP) systems, along with high-quality finishing works for a large building development. The project will be executed over a 30-month period, with defined benchmarks for quality, safety and timely delivery. The order strengthens GHV Infra’s footprint in Jamshedpur, a key industrial hub known fo..