Bestway Cement Limited (BWCL) said the construction and installation of a Greenfield cement plant located near Paikhel in Punjab is now complete.

The cement manufacturer shared the development in a notification to Pakistan Stock Exchange (PSX) on Thursday.

“We are pleased to inform you that Bestway Cement Limited has completed the construction and installation of a Greenfield cement plant with a capacity of 7,200 tonnes of clinker per day near Paikhel, District Mianwali.

“The new plant has commenced cement production on 29th March 2023", the company added.

BWCL is a subsidiary of Bestway International Holdings Limited (BIHL), which holds 56.43% shares in the Company. BIHL is a wholly owned subsidiary of Bestway Group Limited (BGL), a British multinational conglomerate company.

Last month, BWCL commenced production and dispatches of cement at its brownfield Hattar Plant. The plant has its own Waste Heat Recovery Power Plant of 9 MWs.

The cement maker has also commissioned the installation of solar power plants at all of its operation sites. The implementation of these solutions has enabled it to generate its own energy and as a result reduce its carbon footprint.

Owing to the economic slowdown in Pakistan the country’s cement sector too has seen a declining trend.

During the first eight months of current fiscal year, total cement despatches (domestic and exports) were 29.81 million tons that is 16.65% lower than 35.763 million tons despatched during the corresponding period of last fiscal year, data released by All Pakistan Cement Manufacturers Association (APCMA) showed.

Domestic despatches during this period were 27.207 million tons against 31.416 million tons during same period last year showing a reduction of 13.39%. Meanwhile, export despatches were also down 40.15%.