Bestway Cement announces greenfield plant in Mianwali

Bestway Cement Limited announced on Thursday that it will set up a greenfield cement plant with a capacity of 7,200 tons in Mianwali, and has reached an agreement with a Chinese firm for the expansion.

In a notice sent to the Pakistan Stock Exchange (PSX), the company said it will also set up a 9MW Waste Heat Recovery Plant with Sinoma International Engineering Company Limited.

The expansion plan comes as Pakistan prepares for an economic recovery phase that has come on the back of rising construction activity and large-scale manufacturing.

“In view of increasing demand for cement in the country, Bestway Cement Limited has decided to set up a Greenfield cement plant with a capacity of 7,200 tons of clinker per day near district Paikhal, district Mianwali,” said Bestway Cement Limited in its filing to the bourse.

As per the notice issued to Exchange, all necessary regulatory approvals and financial arrangements for this project have been secured.

Bestway Cement Limited, which is a subsidiary of Bestway (Holdings) Limited, UK said that it will also set up a nine megawatt Waste Heat Recovery Plant. “To that end the company has entered into an agreement with Sinoma International Engineering Company Limited, PR China for EPC,” the company added.

Sinoma International is also among the world's largest cement technology and equipment engineering system integration service providers. The Chinese company has finished more than 100 cement production line EPC projects, and more than 1,000 cement line design projects up till now. It has also been recognised for its work on both domestic and international projects.

The cement sector in Pakistan has witnessed a strong upward trend recently and recorded robust growth of 40.41% in April 2021. Moreover, total cement dispatches amounted to 4.943 million tons as compared to 3.52 million tons dispatched during the same month last year.

Positive growth extended to the international market where cement exports increased significantly by 252%, from 249,127 tons in April 2020 to 877,163 tons in April 2021.