Unfolding a major investment plan, Bestway Cement Limited has announced to expand its operations with a new brownfield cement plant in district Haripur, Khyber Pakhtunkhwa.
According to stock filing, the company has planned to set up a brownfield cement plant — which will add 7,200 tonnes of clinker per day, a 9MW waste heat recovery plant, and a 6.4 MW off-grid solar power plant in the district.
The firm has decided to scale up its operations in order to tap into the rising domestic demand for construction materials.
For the waste heat recovery plant at Hattar, the company has signed an agreement with Sinoma International Engineering Co Ltd. It has also signed an agreement with Reon Energy for the off-grid solar power plant.
According to Bestway Cement Limited, it has secured all regulatory approvals and made all financial arrangements to execute the expansion plans, however, it has not disclosed the investment figures in the notification issued to Pakistan Stock Exchange.
The construction sector in Pakistan is witnessing a boom at present. It has also pushed up the demand for construction materials, including cement, across the country.
In the next few years, the cement sector is set to expand its capacity as various leading producers of cement have announced new plants in various cities.