Cement News tagged under: Bestway Cement

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Capacity in Pakistan inches ahead

24 May 2018, Published under Cement News

The capacities of Pakistan's cement industry in the north and south of the country are regularly being expanded. As a result, total cement capacity in Pakistan is on track to increase from 47Mta in FY17 to 56.6Mta by the end of FY19. Bestway Cement (BWCL) has reportedly started trial production at its 1.8Mta brownfield cement plant in the north. According to market sources, the commercial operations are expected to begin by 15 June 2018, contrary to earlier expectation of commencem...

Supreme Court of Pakistan issues notice to several companies

06 April 2018, Published under Cement News

The Supreme Court of Pakistan has issued notices to several cement factory owners to appear on 20 April, with regards to clarifying their position on the drying out of the Shiri Katas Raj Temple Pond. The pond has allegedly been depleted due to the operation of cement plants in the area, which may have removed the underground water. The court has requested the companies involved to develop a solution to the issue. In a previous hearing of the case, directives were issued to Bestway-I, ...

Bestway Cement announces 13% net profit fall

22 February 2018, Published under Cement News

Pakistan’s Bestway Cement Ltd has announced a net profit of PKR6.19bn (US$55.9m) in the 1HFY18 period, representing a 12.8 per cent fall from the year-ago period. The decrease in profit has been attributed to the rising cost of sales. While net sale increased to PKR38.44bn from PKR35.35bn, costs also advanced to PKR16.55bn (1HFY17: PKR14.03bn). The company reported an administrative expense of PKR1.15bn, compared to PKR1.13bn of the 1HFY17.

Punjab government proposes ban on new cement plants in Potohar

14 December 2017, Published under Cement News

The Punjab government has proposed to ban the establishment of new cement factories in the Potohar region of Pakistan, according to the Nation. This proposal has been attributed to the noticeable decline in groundwater levels alongside an increase in pollution. The Department of Industries, Commerce and Investment has supplied a summary to the Chief Minister’s Office, requesting the cement industry to be placed under Schedule ‘C’ of the location policy. This would protect certain areas...

Pakistan: Bestway Cement shelves plans to acquire Dewan Cement

10 April 2017, Published under Cement News

Bestway Cement has announced it has shelved plans to acquire the North plant of Dewan Cement in Pakistan. “As a result of delay and uncertainty resulting from recent legal proceedings initiated in the Sindh High Court, Bestway Cement Limited has decided not to proceed with the acquisition of the north plant of Dewan Cement Ltd located at Kamilpur, near Haripur, Khyber Pakhtunkhwa,” the company said in a notice issued to the Pakistan Stock Exchange. Bestway did not cite the reason for its...

Pakistan: capacity expansion projects reach 27.3Mta

09 March 2017, Published under Cement News

Pakistani cement producers have been announcing capacity expansions at a breakneck pace of late, reports the Business Recorder, which calculates that if all of these are completed the country’s nominal cement production capability will rise by 62 per cent to 72Mta. The Business Recorder also notes that the rise in capacity is broad-based, with all but the smallest of firms increasing their production potential. While the three largest producers – Bestway, Lucky and DG Khan – will remai...

Pakistan: Bestway Cement awards Sinoma brownfield project

02 March 2017, Published under Cement News

Bestway Cement Ltd informed the Pakistan Stock Exchange that it will set up a brownfield cement plant with a capacity of 6000tpd clinker at its Farooqia site in District Haripur, Khyber Pakhtunkhwa, in northern Pakistan. According to Sehar Hussain, secretary and general counsel of the company, Bestway Cement signed an agreement with Sinoma International Engineering Co Ltd on 1 March 2017. According to the APCMA,  Bestway Cement’s four plants have a combined capacity of 7.9Mta.

Pakistan: Bestway Cement to acquire Dewan Cement

22 February 2017, Published under Cement News

Dewan Cement Ltd and Bestway Cement Ltd have both separately informed the Pakistan Stock Exchange (PSX) that they are signing a memorandum of understanding (MoU), wherein Bestway will acquire Dewan Cement, subject to approval by concerned authorities.   Previously, three local cement companies and a Chinese company expressed their intention to acquire stakes in Dewan Cement.   The Bestway Cement Ltd notification to PSX says that it has entered into a non-binding MoU with Dewan Cement Ltd ...

Pakistan: Bestway Cement joins bidding for Dewan Cement assets

03 January 2017, Published under Cement News

Bestway Cement Ltd has informed Pakistan Stock Exchange (PSX) on 30 Dec that it is considering acquiring the northern plant and related assets of Dewan Cement Ltd in Pakistan. Previously, three local cement companies and a Chinese company have expressed their intention to acquire stakes in Dewan Cement. “The final outcome will be dependent upon due diligence and any eventual bidding, if made, for purchase of Dewan’s assets,” said Sehar Hussain, Bestway cement's company secretary. The i...

Pakistan: Bestway Cement pretax profits up 45%

09 May 2016, Published under Cement News

In an earnings statement released today, Bestway Cement announced that its pretax profits for 9MFY2016 were PKR12.64bn (US$121m), up 45 per cent on the same period last year. After tax, the firm’s profits were up 49 per cent, to PKR9.24bn (US$88m). According to a report in the Nation, Bestway’s turnover rose by over 49 per cent to PKR32.91bn (US$314m). The scale of the increase was attributed to Bestway’s acquisition of Pakcem and increasing domestic demand. This was offset to a degree...