Beximco LPG Unit – 1 Ltd., a concern of Beximco, has entered into the agreement with Padma Oil Company Limited (POCL), a subsidiary of Bangladesh Petroleum Corporation (BPC), to set up LPG pumps and sell the auto-gas through filling stations.
According to the deal signed on Sunday, it will enable the Beximco to setup LPG pumps and commence sales of auto-gas through the registered filling stations of Padma Oil Company Limited
The signing ceremony took place at the office of Padma Oil Company at BTMC Bhaban, Kawran Bazar.
Liquefied petroleum gas (LPG) is called auto-gas when it is used for motor vehicles as fuel. Such auto-gas is considered to be energy efficient and environmentally friendly for motor vehicles.
As per the agreement, the POCL and the 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 and 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).
Beximco LPG has been operating in the LPG sector since 2018, is the first-ever company in the country to provide composite fiberglass cylinders for household LPG consumption.