JK Cement invests ₹150 cr in Saifco Cements, acquires 60% stake
JK Cement became the first major cement manufacturer to set up manufacturing operations in Srinagar as it acquired a 60% stake in Jammu and Kashmir-based Saifco Cements. It invested ₹150 crore in Saifco Cements and formalised a joint venture with the company. Following this, Saifco Cements has become a subsidiary of JK Cement with immediate effect.