Karachi: The inauguration ceremony of the 6MW and 7.5MW waste heat recovery power plants was held at Bestway Cement Limited’s operations at Hattar and Farooqia, District Haripur respectively on Friday, 24 July, 2015. Speaking at the ceremony held to mark the occasion, group Chairman Sir Anwar Pervez, OBE, H P khailed the accomplishment as yet another milestone in the long series of achievements by Bestway since its entry in Pakistan.
“The investment of nearly Rs.1.7billion to set up these Waste Heat Recovery Power Plants in challenging economic times is a testament of Bestway’s unwavering commitment towards propelling economic development of Pakistan. It follows the company’s successful acquisition of Lafarge Pakistan, now known as Pakcem Limited, for an enterprise value of US$329 million in July 2014,” Sir Anwar added.
He expressed his commitment to further developing the acquired company into a role model for cement industry to follow and stated that Bestway plans to invest nearly $30 million in Pakcem Limited, including a 9.8MWwaste heat recovery power plant at its Kallar Kahar operation slater this year.
Waste Heat Recovery Power Generation consumes no fuel with zero greenhouse gas emission in the process. Dust emission and temperature of discharged flue gas is further lowered simultaneously, thus having a positive impact on the environment. The waste heat recovery plants have enabled Bestway to significantly reduce its reliance on external source of power.
Speaking on the occasion, Mr. Zameer Choudrey CEO Bestway Group said that these power plants will not only reduce Bestway’s reliance on national grid but also help in alleviating the country’s power crisis to a certain extent and reduce greenhouse gas emissions by 27,000 CMDs.
In 2011, Bestwayinstalled a 15MW waste heat recovery power plant at its Chakwal plant – the first of its kind in the local cement industry. The plant conforms to CDM (Clean Development Mechanism) and has been successfully registered with UNFCCC (United Nations Framework Convention on Climate Change).
With a total capacity of over 8 million tonnes per annum, Bestway continues to be a pioneer in the cement industry focused on reducing environmental impact and contributing to the country’s power generation. Bestway Group is committed to growing the cement industry of Pakistan and offers the widest product portfolio of cement and building materials.
About Bestway Group:
The UK-based global conglomerate is the UK’s eighteenth largest privately owned company and seventh largest family-owned business. Bestway Group includes the UK’s second largest wholesaler serving 125,000 independent retailers and caterers from 64 warehouses nationwide and with over 6 million square feet of selling space. The Group also recently acquired UK’s third largest pharmacy business – The Co-Operative Pharmacy (now rebranded as Well Pharmacy). The pharmacy business has over 770 branches across the UK and employs over 7,000 employees.
United Bank Limited, Bestway’s banking division, is Pakistan’s second largest private bank with assets under management of US$10.3 billion and a branch network of over 1,400 branches serving over five million customers. Bestway has a turnover of more than US$ 3.4 billion and a global workforce of nearly 34,000 of which 12,000 is in the UK.