Beximco LPG, Padma Oil team up to widen the Autogas market
Dhaka 6 September, 2020: Beximco LPG Unit – 1 Ltd., has entered into an agreement with Padma Oil Company Limited (a subsidiary of Bangladesh Petroleum Corporation) enabling Beximco LPG to setup LPG Pumps and commence sales of Autogas through the registered filling stations of Padma Oil Company Limited, as per agreement signed between Padma Oil Company Limited and Beximco LPG on Sunday. The signing ceremony took place at the office of Padma Oil Company at BTMC Bhaban, Kawran Bazar on Sunday 6th September at 3 pm.
Autogas is Liquefied Petroleum Gas (LPG) and is already a highly popular and admired fuel solution across the world for being energy efficient and environmentally friendly. This agreement will ensure rapid penetration of AutoLPG for use in vehicles operated by Auto Gas across the country. As per the agreement, POCL & BPC both will receive a royalty of Tk 0.50 per liter of LPG that is sold by Beximco LPG through their established AutoLPG pumps. Currently, POCL has a network of 695 filling stations while Beximco LPG was granted 500 franchise licenses for AutoLPG stations earlier in 2016 from the Ministry of Energy & Mineral Resources Division.
The agreement was signed by Mr. Md Masudur Rahman (Managing Director, POCL) and Mr. Mrinal Roy (Chief Executive Officer, Beximco LPG) and attended by Mr. Sohel Abdullah (Deputy General Manager, Sales, POCL), Mr. Numon Ahmed Taffader (Deputy General Manager, Dhaka), Md. Ahammadullah (Deputy Manager & PS to Chairman, BPC), M Muntasir Alam (Chief Commercial Officer, Beximco LPG), and Ms Tasnuva Choudhury (Head of Business Development, Beximco LPG).
Speaking at the ceremony, Mr. Mrinal Roy (CEO, Beximco LPG) said, “At the moment, Beximco LPG already has 9 AutoLPG pumps operational with 45 more in the pipeline. The investment required for each pump varies depending on the location and capacity required. Beximco LPG commits delivery of the highest quality LPG mix of Propane and Butane to ensure that the fuel reaches the required Octane number and causes no damage to the engine of the vehicle.”
Beximco LPG has been operating in the LPG sector since 2018 is the first-ever company in Bangladesh to provide composite fiberglass cylinders for household LPG consumption. M Muntasir Alam, Chief Commercial Officer of Beximco LPG, informs that these Composite cylinders are non-explosive and also enable the user to see the gas level from outside as these are made of translucent fiberglass material. Furthermore, the tare weight of these cylinders is around 50 percent less than traditional steel cylinders enabling the user to carry them with ease, he added.