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Summit Power Seeks Protection For Its Investment, Facilities In Bangladesh
Energy & Power
|EP_22_08 (Energy & Power Vol 21 Issue 8 October 1, 2024)
Summit Power International (SPI), Singapore has sought government support and protection for its investment in Bangladesh to uphold the country’s reputation as an attractive destination for international capital.
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“We seek a favorable business climate to invest further and contribute to alleviating poverty and unemployment,” the parent company of Summit Corporation Limited (SCL), Bangladesh, and all its subsidiaries, said in a recent letter addressing the Chief Advisor (CA) and Energy Adviser of the interim government.
The CA’s office received the request letter, signed by SPI Chairman Muhammed Aziz Khan, on 19 September 2024. The Energy & Power obtained a received copy of the letter.
According to the communication, Summit's businesses are under significant pressure due to factors including extremely delayed payments by BPDB, the sharp depreciation of the Bangladeshi Taka against the US Dollar without True Up, high interest rates, liquidity shortage in the banking sector, and recent mob attacks on some of their facilities.
Diese Geschichte stammt aus der EP_22_08 (Energy & Power Vol 21 Issue 8 October 1, 2024) -Ausgabe von Energy & Power.
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