In a notification to the Pakistani stock exchange on Friday, the company reported:
We are pleased to announce that Bestway Cement Limited is building and installing a brownfield expansion project Site of the Farooqia plant in a record time of 14 months.
It added that the Farooqia Line II had a vowel capacity of 6,000 tons per day and on 31 st production started in May 2018.
Bestway escaped punishment
Bestway Cement Co and DG Khan Cement have also escaped severe sentences of the Supreme Court (SC) for the Katas Raj temple case.
The cou ntry's highest court ruled that Bestway Cement and DG Khan Cement will find an alternative source of water for their needs
The two companies also filed Rs. 2 billion as the deposit and promised to pay for the water that they use from now on.
However, they had six months to find an alternative to the Katas Raj pond, which has almost dried up due to heavy consumption by these companies.
North Plant of Dewan Cement
not available. Bestway Cement Limited in April also announced that it has suspended its plan to purchase North Plant from Dewan Cement Limited, referring to legal issues and leaving room for other local players or a Chinese participant to work with a major cement manufacturer.
Due to delays and uncertainties due to recent court proceedings initiated in the Sindh High Court, Bestway Cement Limited decided not to proceed with the acquisition of the Northern Dewan Cement Limited plant.
Bestway Cement Limited produces and sells cement in Pakistan. It offers ordinary Portland, sulphate resistant, quick curing and low-alkaline ordinary Portland cement, as well as clinker.
Bestway Cement Limited also exports its products to Afghanistan, India, Sri Lanka, Africa, the Middle East, and Central Asia.
The share of Bestway Cement Limited was closed at Rs. 137.96, + 0.71% with a turnover of 8300 shares.
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