JK Cement to enter Jammu and Kashmir, set to acquire stake in Saifco Cements
A renowned name in cement manufacturing JK Cement is all set to enter the Jammu & Kashmir market. The firm would acquire a 60 percent stake in Saifco Cements in a deal done at a valuation of Rs 174 crore.
Spread across 54 acres of land, Saifco's integrated manufacturing unit in Srinagar has a clinker capacity of 0.26 MTPA and a grinding capacity of 0.42 MTPA. The firm also has a captive limestone reserve spread over 144.25 hectares with a total minable reserve of 129 million tonnes.
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