BANGLADESH PETROCHEMICAL COMPANY LIMITED

Company Description

Bangladesh Petrochemical Company Limited (BPCL) is pioneering the concept of creating worth out of waste in Bangladesh being the first and only post-consumer PET bottle recycling plant of the nation. Its operations epitomize the &＃39;recover and recycle&＃39; business model in which post-consumer PET bottles that used to be considered waste is revived for new use. Starting its operation in July 2012, BPCL has set up a plant that is capable of producing 10,000 metric tons (MT) of recycled PET resin per year using used PET bottles as raw materials. BPCL is more than a PET resin producer. BANGLADESH PETROCHEMICAL COMPANY LIMITED company with environmental commitment to lesson greenhouse gas emission and a social commitment to improve the life of waste pickers.BPCL goal is improve the environment, eradicate child labor and bring fairness in the supply chain of recycling.BPCL Key Strength* Import Substitute: PET bottle manufacturing industry of Bangladesh was fully dependent on imported PET resins until BPCL provided bottle makers the option to source PET resins locally. BPCL is thus helping the country save valuable foreign currency as well.* Ready Market for its Products: Bangladesh imports 142,000 MT of PET and the demand is growing by more than 20% a year. Producing 10,000 MT of PET resins at full capacity BPCL enjoys a ready and growing market to absorb its products. BPCL is currently supplying flakes and resin to local bottling plant, PET sheet and Synthetic (Polyester) Fiber manufacturers.* Secure Funding: BPCL has strong support of foreign and local prominent investors as both equity and debt financing providers. BPCL is in talks with other investors to secure more funding.* Abundant Source of Raw Materials: BPCL procures its key raw material, used PET bottles, locally at internationally competitive price. Bangladesh produces 4.0 billion PET bottles per year and most of it is discarded after being used only one time. BPCL needs only 18% of the locally available cheap raw material to operate in full capacity.BPCL Impact on Society* Reduction of municipal solid waste: The discarded PET bottles that the plant recycles will reduce the volume of municipal solid waste generated in Bangladesh. By converting waste drinking bottles into a usable, valuable manufacturing input, the project has supported improved waste management in Bangladesh. BPCL project is saving 93000 m3 of landfill space and 15,000 of PET bottles getting dumped into soil/drain/river.* Reduction of demand for virgin PET: BPCL&＃39;s operations is reducing the demand the virgin PET for various uses which are extremely beneficial for the environment as quantified in below:o 13,650 tons per annum kg CO2 eq-kilograms of carbon dioxide equivalentso 1230 g per annum kg CFC 11 eq-kg of tricholorofluromethane equivalents.* Job creation: The project has generated 225 locally filled jobs at the recycling facility and will add additional 200 + jobs will be created in BPCL&＃39;s operations as its collection activities expand. The project will also indirectly support BPCL&＃39;s supply chain which the company estimates provides an income to approximately 40,000 people. BPCL sources waste PET bottles from small-scale suppliers and its collection hubs established all over the country and supply sites include waste separation centers, deposit centers, rural communities, and waste disposal sites.* Elimination/ reduction of child labor from the supply chain: At waste disposal sites individual garbage sorting and recycling workers (known in Bangladesh as "tokais") labor in poor working conditions, very often as family units. BPCL is developing a programmatic social engagement plan directly targeted at addressing this systemic issue, thereby reducing the incidence of harmful informal child labor within its supply chain.