LOTTE, the South Korean Conglomerate with revenues of US $60 billion, operates Lotte PPTA - a world-class manufacturer of PTA. Lotte PPTA forms the backbone of the polyester chain and is a key supplier of raw material for a large part of Country's exports. The central theme of our management philosophy is enhancing value of human life with a strong commitment to public service.
Since we aim to benefit society in everything we do - achieving the best standards in Health, Safety and Environment (HSE) has become a way of life for us. At Lotte PPTA, we firmly believe in taking care of people associated with our business, be it employees, contractors, suppliers, customers, business partners and all stakeholders. We also believe in long-term sustainability, therefore, we strive to conserve our resources and keep the environment pollution-free.
In pursuing these high standards, the Company benchmarks its performance with the best in the world and not just with companies operating in Pakistan. This single-minded pursuit of excellence is adhered to in all our operations, despite the added costs and the obstacles faced in the Pakistani context. However, as a company, Lotte PPTA believes that it is a valuable investment, which has an extremely attractive payback in long-term financial and non-financial performance measures. It is, therefore, one of the most important management tools we deploy in achieving excellence in all aspects of our business.
As part of our commitment towards sustainability, resource conservation procedures have been developed and annual action plans are prepared and implemented. On the energy front, the Company has reduced its specific energy consumption by more than 23% and water usage by 35% since commissioning of the plant in 1998. Furthermore, all the waste generated, is either recycled within the plant or re-used as part of our product stewardship policy.
As a result of our continuous focus on Health, Safety and Environment, the Company has achieved world-class performance of 35 million man-hours without a Lost Time Case (LTC) for employees and all contractors. This milestone was achieved with strong commitment, positive attitude and responsible approach to safe working practices and adherence to safety rules by all at Lotte PPTA. It is a proud moment in our 13-year history, and is considered to be one of the highest performances achieved by a manufacturing plant globally.
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