The contract for setting up the floating LNG terminal (FSRU-3) terminal has been cancelled. The Awami League government signed an agreement with the Summit Group on March 30 this year under a special law without any tender.
Bangladesh's third R was known as the second terminal owned by Summit Group. Summit Group's first FSRU is located in Maheshkhali. Ignoring criticism and controversy, the Awami League government signed a contract with the company at a high price.
In an order signed by Petrobangla Secretary Ruchira Islam, an order has been issued to cancel the special law agreement with Summit Group.
On December 6, 2023, the Cabinet Committee on Public Procurement approved the draft contract for the country's third floating LNG terminal at Maheshkhali in Cox's Bazar. According to the agreement, Summit Group was supposed to receive regasification charges of 3 lakh dollars per day (equivalent to Tk. 3 crore 31 lakh 50 thousand as per the exchange rate mentioned in the agreement) for a period of 15 years from the commissioning of the terminal. In 15 years, Summit's income due to regasification charges from the terminal will be at least Tk. 17 thousand 354 crores (at the rate of 110 taka to the dollar).
Aziz Khan, the owner of Summit Group, has got a place in the list of leading businessmen in places like Singapore, even though he was a small businessman a few years ago. Summit Group Chairman Muhammad Aziz Khan has made it to the list of billionaires of 2024 published by Forbes. Aziz Khan is at number 2545 in the list, whose net worth is shown at 1.1 billion dollars and whose income sector is energy. According to Forbes, Aziz Khan is currently a permanent resident of Singapore. He was previously ranked as the 41st richest person in Singapore.
To Aziz Khan, who was close to the government, the laws and customs of the state were nothing but scraps of paper in the thonga of Chanachur. Laws, policies, master plans didn't matter, it was what the summit group wanted. The Power Development Board (PDB) and even the plans of the Power Division have changed under the pressure of the Summit Group. Not considering the interests of the country, the power plant was built at the request of Sheikh Hasina's close friend Muhammad Aziz Khan. Such information was found in the papers of the Power Development Board. As the state has suffered financial losses in these incidents, unplanned power plants have become the bottleneck of the Power Development Board.
According to PDB sources, the Cabinet Committee on Public Procurement approved Santahar 52 MW and Syedpur 100 MW power plants on June 1, 2011. The Summit Group was given several rounds of demand letters after it failed to build the two oil-based power plants on time. The PDB decided to forfeit 12 lakh dollars of Summit's security deposit in accordance with the ultimately unprogressive legislation. Accordingly, notice of forfeiture of security was also given by PDB.
It was said that after the letter, Summit's security will be forfeited. Everything changed with the threats of the influential Aziz Khan. The notice was forced to be withdrawn on the orders of the then Minister of State for Power, Enamul Haque. Besides, it is recommended to extend the time to Madanganj of Naryanganj and Barishal instead of Santahar and Syedpur as per the demand of the summit which was in direct conflict with the master plan of the Power Development Board.
Due to various irregularities and corruption, the government has recently ordered the seizure of all bank accounts of Aziz Khan and his family members. An investigation against the company is said to be ongoing.