JK Cement Acquires Majority Stake in Saifco Cement to Expand in J&K

27 Jan 2025 CW Team

Located in Khunmoh, Srinagar, Saifco's integrated manufacturing unit, which includes both clinker and grinding capacities, aligns with JK Cement's expansion plans. Saifco has an annual turnover of around Rs 860 million, and this acquisition not only strengthens JK Cement's presence in the region but also offers a strategic advantage in the competitive Indian cement industry.

Saifco's facility, spread across 54 acres, has a clinker capacity of 0.26 million tonnes per annum and a grinding capacity of 0.42 million tonnes per annum. The site also holds captive limestone reserves across 144.25 hectares, with a mineable reserve of 129 million tonnes.

This deal, which is expected to close after receiving regulatory approvals, allows JK Cement to tap into Saifco's established infrastructure, sidestepping the time-consuming process of greenfield expansion. The acquisition will also position JK Cement to benefit from Saifco’s established market presence and supply chain.

The move signals JK Cement's ambition to expand further in the Jammu and Kashmir market and beyond, positioning Saifco as a key regional player under JK Cement's umbrella. The acquisition could also lead to potential job creation and greater economic opportunities for local suppliers. As part of the integration, JK Cement is expected to bring operational synergies, improving production efficiency and cost management.

This deal is seen as a model for regional consolidation in India’s growing cement industry, with JK Cement’s established brand and distribution network poised to enhance Saifco’s operations and product offerings in the region.

(Greater Kashmir)

JK Cement has made a significant move in its growth strategy by acquiring a 60% equity stake in Saifco Cement, a cement manufacturer based in Srinagar, Jammu and Kashmir. The acquisition, valued at approximately Rs 1.74 billion, was approved during a board meeting on January 25, 2025.Located in Khunmoh, Srinagar, Saifco's integrated manufacturing unit, which includes both clinker and grinding capacities, aligns with JK Cement's expansion plans. Saifco has an annual turnover of around Rs 860 million, and this acquisition not only strengthens JK Cement's presence in the region but also offers a strategic advantage in the competitive Indian cement industry.Saifco's facility, spread across 54 acres, has a clinker capacity of 0.26 million tonnes per annum and a grinding capacity of 0.42 million tonnes per annum. The site also holds captive limestone reserves across 144.25 hectares, with a mineable reserve of 129 million tonnes.This deal, which is expected to close after receiving regulatory approvals, allows JK Cement to tap into Saifco's established infrastructure, sidestepping the time-consuming process of greenfield expansion. The acquisition will also position JK Cement to benefit from Saifco’s established market presence and supply chain.The move signals JK Cement's ambition to expand further in the Jammu and Kashmir market and beyond, positioning Saifco as a key regional player under JK Cement's umbrella. The acquisition could also lead to potential job creation and greater economic opportunities for local suppliers. As part of the integration, JK Cement is expected to bring operational synergies, improving production efficiency and cost management.This deal is seen as a model for regional consolidation in India’s growing cement industry, with JK Cement’s established brand and distribution network poised to enhance Saifco’s operations and product offerings in the region.(Greater Kashmir)

Infrastructure Urban

17 Sep 2025

Goa Approves Rs 1.92 Billion Mapusa Bus Stand Project

The Goa state government has announced plans to construct a new, modern bus stand in Mapusa, addressing a long-standing demand from Bardez residents. The project, to be executed under a public-private partnership (PPP) model, will involve an investment of approximately Rs 1.92 billion.The decision comes after reports highlighted the deteriorating condition of the existing bus stand, which suffers from potholes, garbage accumulation and waterlogging during the monsoon.The new bus stand will be developed over an area exceeding 27,000 square metres and will offer significant improvements, includi..

Infrastructure Transport

17 Sep 2025

Maharashtra Approves Rs 23.49 Billion Metro Line 11 Project

The Maharashtra government has approved the Rs 23.49 billion Metro Line 11 (Green Line) project, which will link Wadala to the Gateway of India through 14 stations, aiming to reduce congestion in central and south Mumbai. According to a resolution from the state’s urban development department (UDD), the Brihanmumbai Municipal Corporation (BMC) will contribute Rs 2.41 billion and the Mumbai Port Authority (MbPA) Rs 804 million, as the line improves connectivity in their areas. The state and central governments will each provide Rs 3.14 billion.In case of cost overruns, local authorities are r..

Infrastructure Transport

17 Sep 2025

Mumbai’s CSMT Metro Station Nears Completion on Aqua Line

The construction of the Chhatrapati Shivaji Maharaj Terminus (CSMT) Metro station on the Mumbai Metro-3 Aqua Line is nearing completion. Photos shared by X user @haldilal reveal the station’s striking arched entrance, glasswork and modern façade.Known as the Aqua Line, Metro 3 is Mumbai’s first fully underground corridor. It spans 33.5 km between Cuffe Parade (Colaba) and Aarey, with 27 stations — 26 underground and one at grade.The Three Phases of Metro-3Phase 1 – Aarey to Bandra-Kurla Complex (BKC): The 12.69 km section opened to the public on 7 October 2024.Phase 2A – BKC to Worl..