Aziz Khan among 50 richest people in Singapore

16 August 2018 | Daily NewAge 
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Mohammed Aziz Khan
Bangladesh-born businessman Summit Group chairman Muhammed Aziz Khan and his family have been named the 34th richest person in Singapore on the list of 50 richest people and organisations of 2018. 
A Singapore permanent resident Aziz Khan’s net worth is $910 million as of July 25, according to Forbes, a global magazine focusing on business, investing, technology, entrepreneurship, leadership, and lifestyle. 
The list was made available on Wednesday on its website as ‘2018 Singapore's 50 Richest Net Worth’ made based on an annual assessment of wealth and assets. 
The magazine says that Summit has interests in power, ports, fibre optics and real estate and the 63-year-old Aziz Khan was one of the pioneers in the power industry of Bangladesh with more than 36 years of experience. 
It says his daughter, Ayesha, runs Summit Power International and Aziz Khan are planning to list power unit Summit Power International on Singapore Exchange Limited. 
Among 50 richest persons, owners of Singapore’s largest private landlord and property developer Far East Organisation brothers Robert and Philip Ng top the list. 
Social networking site Facebook cofounder Eduardo Saverin, a Brazil national, and Japan’s paint manufacturer Goh Cheng Liang respectively took the second and the third place on the list. 
Recently, as the first Bangladeshi company, Summit Power International has been enlisted with Stock Exchange of Singapore. 
Summit Power International has deferred its planned US$260 million (S$344.2 million) Singapore Exchange initial public offering, which would be the first overseas IPO from a Bangladeshi company. 

Summit, JERA Asia team up for $500m energy project

30 May 2019 | The Daily Star 
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Prime Minister Sheikh Hasina looks on as officials of Summit Corporation and JERA Asia shake hands at the New Otani Hotel in Tokyo yesterday when the two entities signed a memorandum of understanding to initiate an energy infrastructure project in Matarbari, Cox’s Bazar. Photo: Summit
Summit Corporation and JERA Asia yesterday signed a memorandum of understanding to initiate an energy infrastructure project at Matarbari in Cox’s Bazar involving an investment of more than $500 million. 
The initial agreement was signed at the New Otani Hotel in Tokyo in presence of Prime Minister Sheikh Hasina, who is now in Japan on an official visit, Summit Group said in a statement. 
The project will provide impetus to Bangladesh’s trade by developing various terminals for cargo and primary fuel in Matarbari. 
The project is expected to be functional within two years of signing an agreement between Summit, JERA Asia and the government of Bangladesh. 
The project will have a capacity to handle 20 million tonnes of bulk cargo per annum. 
In the statement, Muhammed Aziz Khan, chairman of Summit Group, said the project has the potential to save billions of dollars for Bangladesh for years by providing logistics and handling and maintaining the supply chain more efficiently. 
JERA Asia CEO Toshiro Kudama said: “By signing this MoU, we would like to further accelerate the development of energy infrastructure projects in Bangladesh together.” 
JERA will like to support Bangladesh with investment and state-of-the-art technologies and the company’s excellence in management, he said. 
Faisal Khan, a director of Summit Group, and Kudama signed the initial agreement. 
Nasrul Hamid, state minister for power and energy; Shahriar Alam, state minister for foreign affairs, Nojibur Rahman, principal secretary to the prime minister; Md Abul Kalam Azad, chairman of Moheshkhali-Matarbari Integrated Infrastructure Development Initiative, and Rabab Fatima, Bangladesh’s ambassador in Japan, were also present. 
Summit Group is the largest infrastructure conglomerate in Bangladesh as well as the largest independent power producer. 
In April, Summit LNG Terminal Co Ltd, a consortium of Summit and Japanese trading giant Mitsubishi, commissioned its floating storage and re-gasification unit, the second in Bangladesh, boosting the supply of much-needed gas for the country. 
Tokyo-based JERA is an energy company with global reach that has strength in the entire energy supply chain, from participation in liquefied natural gas (LNG) and other fuel resource projects and fuel procurement, through fuel transportation to power generation. 

Bangladesh-China plan 1,320-MW coal-based power plant in Patuakhali

5 November 2017 | Asif Showkat Kallol | The Dhaka Tribune 
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The government has plans for a 1,320 coal-based power plant in Patuakhali. The joint venture agreement between Rural Power Company Limited (RPCL) with Chinese state-owned Norinco International Ltd will be up for discussion at the Monday meeting of the Cabinet Division. 

The power plant is designed to go into effect from December 2021, according to sources from the Power Division. 

Norinco representatives are currently laying the groundwork for the project. 

RPCL Managing Director M Abdus Sabur said the project cost is estimated to be $2 billion. 

He said: “About 30% of the costs will be covered by equity investment and 70% will be a loan from the Chinese EXIM Bank. The loan will have a 4% interest rate and repayment period of 15 years with a five year grace period.” 

The project is expected to be completed by 2022. 

World Bank provides $185m for 310 MW of renewable capacity in Bangladesh

8 March 2019 | Syful Islam | PV Magazine  
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Renewable energy projects are ready to attract private investors in Bangladesh. Source: PV Magazine
Multilateral lender hopes to leverage $212 million more from the private sector as falling solar development costs make renewables more attractive. A solar plant with a 50 MW capacity in Feni will be one of the first to benefit from the new funds. 
The World Bank has approved $185 million for 310 MW of renewable energy capacity in Bangladesh. 
The international development lender’s Scaling-up Renewable Energy Project aims to mobilize $212 million in private sector funding to establish a Renewable Energy Financing Facility to provide credit to developers of rooftop and large-scale PV. 
The World Bank cash will mainly be channeled through Bangladesh’s Infrastructure Development Company Limited (IDCOL), which has so far invested $2 billion in renewable energy and which aims to use the new funds to drive more than 300 MW of PV capacity by 2022 from rooftops alone. 
A senior official at IDCOL told pv magazine, with the production cost of electricity from renewable energy falling significantly and at par with fossil fuels, many businesses are keen to establish renewable energy power plants. 
Leveraging private investment 
The official added, any entrepreneur who wants to draw upon Scaling-up Renewable Energy Project cash will have to provide 20-30% of project costs themselves. 
With falling component prices making renewable projects more attractive to investors, it is anticipated commercial banks and other private backers will come forward, said the IDCOL official, adding: “This way … IDCOL will mobilize the stated $212 million for renewable power.” 
One of the first projects to be financed by the World Bank cash will be a 50 MW plant in the Feni district of Bangladesh. 
The World Bank credit comes from the lender’s International Development Association, which provides concessional financing, has a 30-year term that includes a five-year grace period, and an interest rate of 1.25% plus a service charge of 0.75%. 

Govt to Take Project to Supply Bhola’s Electricity to National Grid

22 November 2018 | Energy and Power 
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The government plans to undertake a project to supply electricity produced in non-grid Bhola Island to the national grid, said official concerned. 
To this end, the Power Grid Company of Bangladesh (PGCB) has already requested the Power Division for permission to set up a 230kv gridline from Bhola to Kachua. 
The gridline will help evacuate electricity from power plants at Bhola, including the proposed 600MW combined cycle dual-fuel power plant, to the national grid. 
Earlier, the PGCB managing director Masum-Al-Beruni proposed to set up the plant under bidder finance or public private partnership. 
A series of power giants from India and China have expressed their interests in implementing a number of national gridline projects in Bangladesh under public-private partnership (PPP) model, official confirmed. 
At least six Chinese companies and series of Indian companies including Adani Transmission Ltd have already shown their interest in implementing transmission projects in Bangladesh. 

IDCOL Arrange $135m For 3 Liquid Fuel Power Plant

4 December 2017 | Energy Bangla 
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Infrastructure Development Company Limited (IDCOL), a government owned development financial institution involved in private sector energy and infrastructure financing in Bangladesh, has recently signed a term sheet with Confidence Group to raise USD 135 million term loan facility for establishment of three HFO fired IPP power plants in Bogra, Rangpur, and Chittagong having combined capacity of 280 MW. 
Confidence Power Bogra Limited, Confidence Power Rangpur Limited, and Zodiac Power Chittagong Limited will establish the said power plants at an estimated cost of USD 200 million with brand new European engines from MAN and Rolls-Royce. All power projects are expected to go into commercial operation by 2019. 
The program was graced by Mr. Mahmood Malik, Executive Director & CEO of IDCOL and Mr. RezaulKarim, Chairman of Confidence Group. Imran Karim, Group Managing Director of Confidence Group, Mr. Salman Karim, Group CEO of Confidence Group, Mr. Nazmul Haque, Director (Investment & Advisory), and Mr. Khalid Islam, Managing Director of all the three companies were also present at the program along with relevant team members. 
IDCOL, the largest energy and infrastructure financier of the country,has already financed power projects supplying more than 1,500 MW to the national grid. IDCOL looks forward to investing additional USD 1 billion by 2021 for development of priority infrastructure projects in Bangladesh.

IDCOL Financed Fossil Fuel Power Plants in Bangladesh

IDCOL is the largest local financier in the power sector of Bangladesh and has financed BDT 1.5 billion for installation of more than 1500 MW of power plants. Following are the major projects financed/approved by IDCOL:
1. BEDL Rental Power Plant: Sylhet: USD 4 million
2. Bhola Integrated Power Plant (Bhola IPP): Bhola: USD 22.3 million (till 2018)
3. Confidence Chittagong Power Plant (ECPVCL): Chittagong: USD 30 million
4. Lakdhanavi Bangla Dual Fuel Power Plant: Comilla: USD 15 million
5. Malancha Captive Power Plant: Savar, Dhaka: BDT 200 million
6. Powertek Meghnaghat Power Plant: Naryanganj: USD 80 million
7. Quantum HFO Based Power Plants: Jessore and Kushtia: BDT 1000 million
8. Regent Power Plant: Narsingdi: USD 30 million 
9. Shah Cement Captive Power Plant: Munshiganj: BDT 120 million   
10. Summit Ashulia Power Plant I: Dhaka: BDT 153 million
11. Summit Meghnaghat Power Plant II: Naryanganj: USD 30 million
12. Summit Purbanchol and Uttaranchol Gas Based Power Plants: BDT 600 million
  • Summit Jangalia Power Plant, Comilla
  • Summit Maona Power Plant, Gazipur
  • Summit Rupganj Power Plant, Narayanganj 
  • Summit Ullapara Power Plant, Sirajganj
13. Venture Gas Based Rental Power Plant: Bhola: BDT 200 million
Detail Link: IDCOL Power Sector Investments
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