As per the shareholders' agreement between the company and its promoters, JK Cement will acquire management control and hold 60 per cent of the paid-up capital of Saifco

JK Cement has completed the acquisition of a majority 60 per cent stake in Jammu & Kashmir-based Saifco Cements for Rs 150 crore, formalising a joint venture with the company.

This makes the JK Organisation group firm as the first major cement manufacturer to set up manufacturing operations in Srinagar, signalling a step towards regional economic empowerment, according to a joint statement....