Bestway Cement Limited has decided to invest in a Brown Field cement plant with a capacity of 6000 tonnes of clinker per day at its Farooqia site in the district of Haripur, Khyber Pakhtunkhwa. In this regard, the company has signed an agreement with Sinoma International Engineering Co., China. This was notified in a notice sent to the Pakistan Stock Exchange (PSX) today (Thursday).
In terms of production of cement, Bestway has the highest capacity (7.9millio tons).Bestway has managed to take a sizeable market share and build market value due to its effective marketing strategy.
Bestway Cement Limited is part of the Bestway Group of the United Kingdom.The Group has a well-diversified portfolio incorporating cement manufacturing, global banking, wholesale cash & carry business, a string of retail outlets, real estate investment, ethnic food and beverage import and distribution and milling of rice. Recently the group has embarked upon a large power generation project in Pakistan thus further diversifying its operations and revenue base.
Just recently, Bestway Cement (buyer) had entered into a non-binding memorandum of understanding (MOU) with Dewan Cement Limited (seller) for the proposed acquisition of its North Plant and related assets located in Hattar.
The company has strong prospects of becoming the market leader and it seems the recent expansion and acquisition plans of the company are geared towards making it happen.
The stock for Bestway Cement is trading at Rs 302.12 after an increase of Rs 2.70 (0.89 pc)