Beximco LPG, Padma Oil ink deal for Autogas marketing
DHAKA, Sept 6, 2020 (BSS) – Beximco LPG Unit–1 Ltd. has entered into an agreement with Padma Oil Company (a subsidiary of Bangladesh Petroleum Corporation) enabling Beximco LPG to set up LPG pumps and commence sales of Autogas through the registered filling stations of Padma Oil Company Ltd.
The signing ceremony took place at offices of Padma Oil Company at BTMC Bhaban, Kawran Bazar today, according to a press release.
Autogas is Liquefied Petroleum Gas (LPG) and has already got popularity across the world for being energy efficient and environmentally friendly.
The agreement will ensure rapid penetration of Auto LPG for use in automobiles across the country, the release said.
As per the agreement, Padma Oil will receive a royalty of Taka 0.50 per liter of LPG that is sold by Beximco LPG through their established AutoLPG pumps. Currently, Padma oil has a network of 695 filling stations while Beximco LPG was granted 500 franchise licenses for AutoLPG stations by the Ministry of Energy & Mineral Resources earlier in 2016.
The agreement was signed by Md Masudur Rahman (Managing Director, POCL) and Mrinal Roy (Chief Executive Officer, Beximco LPG) and attended by Sohel Abdullah (Deputy General Manager, Sales, POCL), Numan Tapadar (Deputy General Manager, Dhaka, POCL), M Muntasir Alam (Chief Commercial Officer, Beximco LPG) and Tasnuva Choudhury (Head of Business Development, Beximco LPG).
Speaking at the ceremony, Mrinal Roy said, “At the moment, Beximco LPG already is having 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, informed that these composite cylinders were non-explosive and also enable the user to see the gas level from outside as these were 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.