PHP Family-have received the sixth Standard Chartered-Financial Express Corporate Social Responsibility (CSR) Award-2016 for their outstanding contributions to communities beyond their corporate practices. Finance Minister AMA Muhith handed over the 6th SCB-FE CSR awards to the recipients as the chief guest at a function held at the Westin Hotel in the capital. Professor Wahiduddin Mahmud, Chairman of the 12-member CSR award committee, announced names of the winners in consideration of their roles in various arenas, especially in the fields of health, education, promotion of young talents and green manufacturing practices.
Sufi Mohamed Mizanur Rahman, Chairman of PHP Family, and Reaz Uddin Al-Mamoon, Managing Director of Epyllion Group, received the awards on behalf of their respective organisations. PHP (Peace, Happiness & Prosperity) Group started its business in 1969 to emerge later one of the leading business conglomerates in Bangladesh. It is now the well-known PHP Family. The group comprises over 30 companies that are operating in diversified business sectors like Steel, Float Glass, Aluminum, Textiles, Power, Petro Refinery, Financial Services, Agro and so on. Pioneering the steel and float glass industries in Bangladesh, the PHP Family has been continuously exploring newer horizons each day with innovative and eco-friendly technologies.
Summit Group is eyeing to get listed with the Singapore stock exchange to raise capital for future energy projects in Bangladesh. The group has already started discussions with the concerned authorities in Singapore to facilitate listing there and raise funds to be uilised in projects to provide primary energy.
Summit Group is currently focusing on Bibiayana II 341 megawatts (MW) power plant in Habiganj district. Different multilateral donor agencies-Asian Development Bank (ADB), International Finance Corporation (IFC) and Islamic Development Bank (IsDB) provided US$ 210 million financing to implement the project on completion of the 222 MW simple cycle power plant. This is the largest amount of direct loan given to any Bangladeshi private sector project by any of the three development agencies. It is the largest project finance transaction carried out by a privately-owned local company.
The Summit Bibiyana II having a generating capacity around 341 MW of electricity is the country's largest independent power producer (IPP). With highly efficient 9FA gas turbine, the plant has generated as high as 393 MW of electricity. The plant's noise and emission levels are well within the limits set by the World Bank (WB) and the Bangladesh Environment Conservation Rule.
The SBIIPCL, owned by the Summit Corporation Ltd and the General Electric (GE) of the USA having 80 per cent and 20 per cent stakes respectively, has implemented the power plant project. The power plant is located at Parkul village in Nabiganj upazila of Habiganj district, some 180 kilometres northeast of Dhaka. The Summit-GE consortium was awarded the project work by state-run Bangladesh Power Development Board (BPDB) and the government following a competitive bidding.