Summit LNG completes its 1st ship-to-ship transfer of LNG

26 May 2019 | Daily NewAge 
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‘Summit LNG’ received 1,59,000 cubic metres of LNG from tanker (on right) using flexible transfer hoses and after regasifying LNG supplied to the National Gas Grid via subsea pipeline. — New Age photo
Summit LNG completed its first ship-to-ship transfer of LNG at 6 km off Moheshkhali in Bay of Bengal successfully on Thursday, said a press release. 
Summit’s floating storage and regasification unit (FSRU) – ‘Summit LNG’ received 1,59,000 cubic metres of LNG from Oman Trading International, it said. 
The transfer was done using flexible transfer hoses. The LNG tanker ‘Creole Spirit’ carried LNG from Bethioua, Algeria. RPGCL (Rupantarita Prakritik Gas Co) on behalf of Petrobangla certified the completion of this transfer, said the release. 
The next STS transfer is due in early June 2019. 
Summit Group founder chairman Muhammed Aziz Khan said, ‘At Summit, we are grateful to receive the opportunity to prove the abilities of Bangladesh, on schedule implementation of power projects, LNG Projects and now terminalling’, the release also said. 
Petrobangla and RPGCL chairman Md Ruhul Amin commented, ‘We are very proud of the successful completion of Summit’s Ship-to-Ship LNG transfer commissioned by RPGCL on behalf Petrobangla’, said the release.

Summit Power receives ICSB Gold Award

12 November 2018 | Daily NewAge 
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Summit Power director Azeeza Khan and managing director Lt Gen (retd) Abdul Wadud receive gold award from finance minister Abul Maal Abdul Muhith at a programme titled ‘ICSB National Award-2017’ for the company’s corporate governance excellence in the fuel and power companies category organised by ICSB held at Radisson Blu Dhaka Water Garden in Dhaka on Saturday. BSEC chairman M Khairul Hossain, former finance advisor to the caretaker government ABM Mirza Azizul Islam, ICSB president Mohammad Sanaullah and senior vice-president Safiar Rahman and Summit Group vice-chairman Farid Khan were present, among others. — New Age photo
Summit Power has been awarded the gold award at ‘ICSB National Award’ for corporate governance excellence in ‘the fuel and power companies’ category, said a press release. 
 
This is the fourth time Summit Power received this recognition from the ICSB, it said. 
 
Summit Power director Azeeza Khan and managing director Lt Gen (retd) Abdul Wadud received the gold award from finance minister Abul Maal Abdul Muhith at a programme held at the Radisson Blu Dhaka Water Garden in Dhaka on Saturday. 
 
BSEC chairman M Khairul Hossain, former finance adviser to the caretaker government ABM Mirza Azizul Islam, ICSB president Mohammad Sanaullah, ICSB senior vice-president Safiar Rahman, Summit Group vice chairman Farid Khan and financial controller and company secretary Swapon Kumar Pal were present at the programme, among others. 
 

Summit, GE, Mitsubishi unveil $3b energy investment in Bangladesh

12 July 2018 | Daily NewAge 
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Representatives of Summit Corporation, General Electric Company of the US and Mitsubishi Corporation of Japan in Dhaka on Wednesday sign a deal to invest $3 billion in private power sector of Bangladesh. — New Age photo
Bangladesh-based independent power producer Summit Corporation Limited along with Mitsubishi Corporation and General Electric Company on Wednesday announced a $3 billion foreign direct investment for the establishment of four combined cycle power plants in Bangladesh. 
Each power plant with 600MW generation capacity would start power generation by 2023, according to a memorandum of understanding signed between the respective parties at a city hotel. 
The event was held in continuation with an earlier memorandum signed on March 13 in presence of prime minister Sheikh Hasina during her visit to Singapore. 
At Wednesday’s event, prime minister’s energy adviser Tawfiq-e-Elahi Chowdhury said that completion of the projects would help to bring almost all the households under power supply coverage by 2024. 
State minister for power, energy and mineral resources Nasrul Hamid said that Bangladesh needed more private investment to raise the power generation capacity to 60,000MW. 
Summit chairman Muhammad Aziz Khan claimed that the project would facilitate best technology at world’s lowest tariff to meet increasing demand of power supply for people and businesses. 
General Electric Company president and chief executive officer Russel Stokes said that GE’s 9HA gas turbines would ensure high levels of efficiency to strengthen Bangladesh’s power generation. 
Power division secretary Ahmad Kaikaus, energy and mineral resources division secretary Abu Hena Rahmatul Muneem, Bangladesh Power Development Board chairman Khaled Mahmood, among others, were present. 
Later at Bidyut Bhaban, another memorandum was signed between Bangladesh Power Development Board and General Electric Company for the installation of 3600MW LNG-based power plant at Maheshkhali in Cox’s Bazar. 
Khaled Mahmood and Russel Stokes signed the memorandum for the project that would cost $4.4 billion. 

Aziz recognised as the ‘Global Asian of the Year 2018’

29 January 2019 | Daily NewAge 
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Summit Group chairman Muhammed Aziz Khan receives the ‘Global Asian of the Year 2018’ award from Singapore member of parliament (West Coast GRC Boon Lay) Patrick Tay, under the ‘power and energy’ category at an awarding ceremony held at the tenth edition of AsiaOne Summit titled ‘Pride of Asia – Asian Business & Social Forum 2019’ at Marina Bay Sands Hotel in Singapore on January 21. — New Age photo
Summit Group chairman Muhammed Aziz Khan has been recognised as the ‘Global Asian of the Year 2018’ under the ‘Power & Energy’ category by AsiaOne magazine for his contribution to the sector and industry, said a press release on Monday. 
The award ceremony was held at the Tenth Edition of AsiaOne Summit ‘Pride of Asia – Asian Business & Social Forum 2019’ on January 21 at Marina Bay Sands Hotel in Singapore. 
AsiaOne stated that Muhammed Aziz Khan was the pivotal force of the largest infrastructure conglomerate in Bangladesh – the Summit Group of companies. 
Starting his business with zero capital, Aziz has been listed among the richest in Singapore by Forbes in 2018, said the press release. 
This selection is based on primary and secondary research across 16 industries under 62 sub categories in Asia, with the evaluation and scoring from independent jury members, united research services international primary and secondary data collation, and the AsiaOne editorial team.

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. 

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