JSA assisted Saifco Cements Private Limited (“Saifco”) in its joint venture with J.K. Cement Limited (“J.K. Cement”). The transaction included both primary issuance and secondary acquisition of shares of Saifco by J.K. Cement.
Saifco is among Jammu & Kashmir’s top manufactures of cement with an integrated manufacturing unit spread across 54 acres of land at Khunmoh, Srinagar, and has a clinker capacity of 0.26MTPA and grinding capacity of 0.42MTPA. Saifco has captive limestone reserves spread over on an area of 144.25 hectares with a total minable reserve of 129MnT.
This acquisition represents a strategic move to expand J.K. Cement’s presence in one of the country’s fastest-growing regions, strengthening its footprint in the promising Kashmir valley. The joint venture also aligns with the government’s emphasis on enhancing infrastructure development in Jammu and Kashmir, speeding up the region’s growth. The joint venture partners aim to collaborate in expanding cement production capacity over the next five years, capitalizing on the vast limestone reserves. This is set to be one of the largest acquisitions in the cement industry within the Jammu & Kashmir region.
