BEXIMCO GROUP: Bringing the World to Bangladesh
“Beximco wants to “bring Bangladesh to the world.” But it’s currently bringing the world to Bangladesh.”
The largest private-sector group in Bangladesh constructed the country’s largest solar power plant at 200 megawatts (MW) at Sundarganj in the Gaibandha district on a 650-acre plot of infertile land through its Teesta Solar Limited subsidiary.
Prime Minister Sheikh Hasina inaugurated the opening during a gathering at the Rangpur Zila School ground earlier this month. Energy security is a priority for the country, which is experiencing the worst energy crisis in a decade.
“We think the renewable energy sector will be very important for future energy, so we have taken decision to invest here,” Shayan F. Rahman, chairman of Beximco Power Limited, told Bangladesh Sangbad Sangstha (BSS) news. “We launched the first green Sukok bond, sharia-compliant bonds, in the country to finance this project. We have spent about $300 million in this project. In the future, we are thinking of setting up more solar power plants as per government plans.”
The plant comprises 550,000 panels sourced from Shanghai. It is 65.7 MWs larger than Energon Renewable’s solar plant. The Teesta project, which has been in the works since 2017 and began operating on a trial basis last December, comes at a critical time for the country’s northern region, considering its reliance on imported fuels and fast-declining foreign exchange reserves amid the energy crisis.
About Teesta Solar Limited
Teesta Solar Limited a subsidiary of Beximco Power Company Limited,
About BEXIMCO
Bangladesh Export Import Company Limited, commonly known by its trade name BEXIMCO, is a Bangladeshi multinational conglomerate holding company, headquartered in Dhaka, Bangladesh. It was founded in the early 1970s.
BEXIMCO is Bangladesh’s largest conglomerate, with the largest market capitalisation on the country’s stock market. BEXIMCO currently has operations and investments across a wide range of industries including textiles, pharmaceuticals, PPE, ceramics, real estate development, construction, trading, marine food, information and communication technologies, media, DTH, financial services, and energy.[5] BEXIMCO’s subsidiaries export products to 55 countries worldwide.[6] It has retail outlets in South Asia and Eastern Europe. It is one of the largest private sector employers in Bangladesh with over 70,000 people worldwide.[5]
BEXIMCO operates one of the largest integrated textile production businesses in Asia. Its main manufacturing base is the BEXIMCO Industrial Park in Gazipur, Bangladesh. Beximco Pharma, the group’s pharmaceutical producer, was the first Bangladeshi company to be listed on the London Stock Exchange.
Check out some list of some companies
The conglomerate compromises four public traded and eight privately held companies.
Bangladesh Export Import Co. Ltd. ( public)
Beximco Pharma (public)
Beximco Computers Ltd.
Beximco Engineering Ltd.
Beximco Aviation Limited.
Beximco Petroleum Ltd.
Beximco Power Company Ltd.
Beximco Synthetics Ltd. ( public)
Source: Sourcingjournal.com, Wilkipedia
Photo Credit: Sourcingjournal.com
