THE COMPANY

The Summit Group is one of the leading private sector conglomerates of Bangladesh, comprising more than twenty business units ranging from power to shipping to communications and currently generating 792 MW of electricity and another 393 MW is under construction. Summit Power Limited (SPL), a subsidiary of Summit Group is the first Bangladeshi Independent Power Producer (IPP) in Bangladesh in private sector providing power to national grid. SPL was incorporated in Bangladesh on March 30, 1997 as a Private Limited Company. On June 7, 2004, the Company was converted into Public Limited Company under the Companies Act 1994.

 Today Summit Power Limited owns and operates 11 (eleven) power plants at different locations across the country having a total capacity of 317 MW. Our power plants are equipped with engines manufactured by world famous technotex companies, i.e. Wartsila – Finland, Caterpillar - USA, and GE Jenbacher, Austria. All of its power plants run 24 hours a day to support the national grid. As per private sector power generation policy of Bangladesh, Summit sells electricity to the Bangladesh Power Development Board (BPDB) and Bangladesh Rural Electrification Board (BREB) only. Due to the practice of Integrated Management System (IMS) to run the day-to-day business operation, the Company has been certified by ISO 9001: 2008 - Quality Management System, ISO 14001: 2004 - Environmental Management System and OSHAS 18001: 2007 - Occupational Health and Safety Assessment System.

Apart from three existing subsidiaries (Summit Purbanchol Power Company Limited, Summit Uttaranchol Power Company Limited and Summit Narayanganj Power Limited), Summit Power Limited holds 17.64% ownership of Khulna Power Company Limited (KPCL) and 30% of Summit Meghnaghat Power Company Limited. That means 153 (50 + 103) MW (approximately) has been added with that of SPL’s 317 MW, being the total capacity of 470 MW. This fast-growing company has set a mission to expand the company with a power generation capacity to the tune of a modest 20% of the electricity requirement in Bangladesh. In the way to this mission to enlighten the nation, recently, the Company is implementing two new power plants with a total generation capacity of 165 MW.

 Due to its Management’s dedication, integrity and leadership, the Company has been applauded locally and internationally by several awards at various times, i.e. – Best Fast Track Power Project Award by Asian Power Awards, International Star for Leadership in Quality Award by Business Initiative Directions (BID), Best Presented Accounts and Corporate Governance Disclosures Awards by SAFA, ICAB National Award for Best Published Accounts and Reports in Manufacturing Sector, ICMAB Best Corporate Award in Power Sector, ICSB National Award for Corporate Governance Excellence in General Manufacturing.

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Note:
ICAB - Institute of Chartered Accountants of Bangladesh
ICMAB - Institute of Cost and Management Accountants of Bangladesh
SAFA- South Asian Federation of Accountants

 

Message from the Chairman
Proxy Form AGM 2014
Summit Power Annual Report 2014

 

Summit Power Data Room
Financials

Price Sensitive Information