30 May 2019Back
Summit and Mitsubishi appraise Honorable Prime Minister on the progress of USD 3 Billion investment in Bangladesh
Photo caption: Muhammed Aziz Khan, Founder Chairman of Summit Group (left) and Jun Nishizawa, Group CEO of Natural Gas Group, Mitsubishi Corporation (right) updates Honorable Prime Minister on USD 3 Billion investment in Bangladesh.
(Tokyo, Japan) May 30, 2019: Jun Nishizawa, Group CEO of Natural Gas Group of Mitsubishi Corporation and Muhammed Aziz Khan, Founder Chairman of Summit Group met with Honorable Prime Minister Sheikh Hasina at New Otani Hotel, Tokyo during business breakfast meeting to appraise her about the progress of the Summit-Mitsubishi and GE’s investment of USD 3 Billion in Bangladesh. They also discussed about other power and energy projects being pursued by Summit and Mitsubishi.
Jun Nishizawa, Group CEO of Natural Gas Group of Mitsubishi Corporation said, “We are happy to have successfully partnered in Bangladesh’s second FSRU terminal with Summit Group. Mitsubishi has a track-record and is keen to invest into gas-to-power project in Bangladesh with our partner Summit Group in order to contribute to the country’s growing energy demand.”
About Summit, Mitsubishi and GE’s USD 3 Billion Investment:
The scope of this project includes four units of 600 MW combined cycle power plants (total generating capacity of 2,400 MW), two units of on-shore LNG terminal with total of 380,000 m³ capacity, oil terminals with 100,000 MT capacity and another 300 MW HFO-based power plant. Summit will be the majority owner of the project while Mitsubishi and GE will be owning the remaining. The project is designed to be completed at a global best tariff by 2023 beginning from 2019. With implementation of this project in 2023, Summit will be doubling its generation capacity.