
Displaying items by tag: JK Cement
JK Cement secures major limestone reserves in Gujarat
30 January 2025India: JK Cement has won a bid for 250Mt of limestone reserves in Lakhpat Punrajpur, Kutch, Gujarat, through a Request for Proposal from Gujarat Mineral Development Corporation. The reserves are expected to supply the company with raw materials for the next 40 years.
JK Cement Group president Amit Kothari said "This strategic partnership not only strengthens our resource base, but also highlights our focus on ensuring a steady supply of premium raw materials for high-quality cement production.”
JK Cement to acquire 60% stake in Saifco Cement
27 January 2025India: JK Cement has entered a joint venture with Saifco Cement, through which it will expand its offering in northern India. JK Cement will acquire a 60% stake in Saifco Cement for US$20.1m to expand in Jammu and Kashmir, where Saifco owns limestone reserves of 129Mt across 144 hectares. The acquisition will involve both the companies working together to increase the capacity of cement production by leveraging the expanse of the limestone reserves in the next five years, according to a press release.
JK Cement CEO Madhav Singhania said "Cement demand typically leads economic expansion by a factor of 1.2 in regions with significant infrastructural development opportunities, and Kashmir is undoubtedly one of these regions."
JK Cement signs MoU to support manufacturing industry
10 January 2025India: The Department for Promotion of Industry and Internal Trade under the Ministry of Commerce & Industry has signed a memorandum of understanding (MoU) with JK Cement to support startups, entrepreneurs and innovation in manufacturing. The partnership will provide access to JK Cement’s infrastructure, manufacturing and research and development facilities, mentorship programmes, pilot projects and university resources.
India: Kaushalya Logistics has secured permissions for three upcoming depots, at Akbarpur, Fatehpur and Shahganj, Uttar Pradesh. Capital Market News has reported that JK Cement will use the depots in its operations.
India: JK Cement has laid the foundation stone for a new grinding unit in Buxar, Bihar, at a cost of US$58.7m. With a capacity of 3Mt/yr, the unit is expected to increase the company’s production capacity to over 30Mt/yr by 2025, from the current 24.3Mt/yr, according to Biltrax Media.
Raghavpat Singhania, managing director of JK Cement, said "The new facility will not only enhance JK Cement's reach across India but also contribute to the overall infrastructural and economic development of Bihar.”
India: Kaushalya Logistics has commenced operations at its new depot in Amritsar, Punjab, Reuters has reported. The facility will serve JK Cement’s regional distribution operations.
India: JK Cement plans to invest US$584m in its construction of a new cement plant in the Jaisalmer district of Rajasthan. IM News has reported that the producer has already secured environmental clearance for the upcoming plant.
India: Sumnesh Khandelwal has resigned as the Deputy Chief Financial Officer of JK Cements. He has been in post since late 2021. Prior to this he was the Deputy President – Commercial for JMC Projects and was the CEO of Robo Silicon Private. Earlier in his career he spent nearly 20 years working for UltraTech Cement, eventually becoming a Joint Executive President. Khandelwal is a chartered account affiliated to The Institute of Chartered Accountants of India.
JK Cement inaugurates Prayagraj grinding plant
26 June 2024India: JK Cement has inaugurated its 2Mt/yr Prayagraj grinding plant in Uttar Pradesh. The Economic Times newspaper has reported that the plant raises JK Cement’s cement production capacity by 9% to 24Mt/yr.
India: JK Cement reported a net profit of US$28.1m for the quarter ending 31 March 2024, up by 47.5% year-on-year from US$19.2m. Net revenue increased by 23.3% to US$352m in January – March 2024, compared to US$285m in the same period in 2023. Operating expenses for the quarter rose by 18.2% to US$286m from US$242m in 2023.