ISLAMABAD - The inauguration ceremony of 6 MW and 7.5 MW waste heat recovery power plants was held at Bestway Cement Limited's operations at Hattar and Farooqia, Haripur, respectively, on Friday.

Speaking at the ceremony, group chairman Sir Anwar Pervez, OBE, said, "The investment of nearly Rs.1.7 billion to set up these 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 $329 million in July 2014." 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 9.8 MW waste heat recovery power plant at its Kallar Kahar operations later 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.

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, Bestway had installed 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.

Picture (Plant)

Caption:

HATTAR: Chairman Bestway Group Sir Anwar Pervez and CEO Bestway Group Zameer Choudrey in a group photo at the plants inauguration.