Imran Naikoo

Srinagar, 27 January (Gulistan News TV): The Jammu and Kashmir National Conference senior leader and MLA Hazratbal, Salman Sagar has reacted to JK Cement’s recent acquisition of a 60% stake in Saifco Cements.

Sagar acknowledged the potential benefits of the deal, stating, “As far as I know, JK Cement has always operated at a loss, unlike private cement factories that are profitable. If this partnership helps JK Cement become a profit-making organization, it’s a positive step.”

The acquisition, valued at Rs 174 crore, will give JK Cement control over Saifco Cements, which operates an integrated manufacturing unit in Khunmoh, Srinagar.

Sagar, while expressing cautious optimism, pointed out that JK Cement is a government entity and such decisions are always made after a thorough evaluation of the potential outcomes.

“Such decisions are always taken after carefully evaluating all pros and cons. We hope this move not only provides quality cement to the people but also generates employment and helps the institution recover from losses, contributing to overall development,” he added.
(Gulistan News TV)