KARACHI, PAKISTAN: Bestway Cement Limited has announced to setup a Greenfield cement plant with a capacity of 7,200 tons of clinker per day in Punjab province along with 9MW waste heat recovery plant.
Bestway Cement has entered into an agreement with Sinoma International Engineering Company of China for engineering, procurement and construction (EPC).
“In view of increasing demand for cement in the country, Bestway Cement has decided to setup a Greenfield cement plant in District Mianwali along with 9MW waste heat recovery plant,” a bourse filing said.
Cement manufacturing is an energy-intensive process. Power represents one of the largest costs of production. Persistent power crisis in the country during the last decade necessitated a shift from conventional fossil fuels to alternate energy solutions.
As part of its strategy to reduce its reliance on the national grid, Bestway set up waste heat recovery power plant (WHRPP) at all four sites Chakwal, Hattar, Farooqia and Kallar Kahar.
Moreover, Bestway has signed contracts for setting up 44.3 MWs off-grid solar power plants at its production facilities. This will not only reduce company’s reliance on the national grid further but would also significantly reduce its carbon foot print.
The economic relief measures put in place by the Government to mitigate the effects of Covid-19, including various incentives for the construction industry, have so far been quite effective.
Government’s particular focus on infrastructure development and housing has resulted in higher domestic cement consumption and this trend is expected to continue in the foreseeable future.
While Pakistan escaped initial shocks of Covid-19 pandemic relatively unharmed, the recent 3rd wave of the pandemic may pose a significant threat to the economy as the infection rates continue to soar. Slow role out of the vaccine and poor discipline among the masses may exacerbate the situation. The risks stemming from Covid-19 will therefore continue to loom over the economy for the foreseeable future.
Bestway Group valiantly enlists businesses in Pakistan as the largest cement manufacturer – Bestway Cement Limited, the second largest bank – United Bank Limited and one of the biggest rice milling facilities – MAP Rice Mills; aside from owning in the United Kingdom, the second largest Wholesale – Bestway Wholesale, the third largest pharmacy business – Well Pharmacy, real estate investments, string of retail outlets and, ethnic food and beverage import and distribution.