(Founder and Chairman of Summit Group)
A BIOGRAPHY OF MUHAMMED AZIZ KHAN
Muhammed Aziz Khan is the founder and Chairman of Summit Power International Limited, Summit Holdings Ltd and IPCO Resorts (Bangladesh) Limited. Summit Group is one of Bangladesh’s largest conglomerates, whose power projects produce over 20% of the country’s electricity. Summit Business has grown from being Bangladesh’s first private sector power producer to a diverse group with assets in electricity, energy trading, port, telecommunications, hotel, and real estate under Khan’s leadership.
Khan has led Summit in forming collaborations with corporations like as GE, IFC, and Wärtsilä, as well as winning billions of dollars in funding for Bangladeshi infrastructure projects. Khan has promised to invest $3 billion more in Bangladesh’s energy industry.
In 1998, Summit established the Khulna Power Company Limited, Bangladesh’s first independent power plant (KPCL), Under the leadership of Muhammed Aziz Khan. Summit now generates around 1,950 megawatts (MW) of energy, making it Bangladesh’s largest independent power producer. Summit (75%) and GE (25%) are currently building 600 MW of power producing capacity, with a total capacity of 2,400 MW under development. Summit has also established Summit Alliance Ports Limited, Bangladesh’s first private off-dock port, which handles around 25% of Bangladesh’s export business and 7% of the country’s import traffic. Summit Communications Limited, another Muhammed Aziz Khan business, was the first to install a fiber-optic transmission network across Bangladesh.
With over 47,000 kilometers of laid fibre, Summit Communication Limited’s fibre optic cables cover the whole country of Bangladesh. Bangladesh is additionally connected to India by terrestrial fibre optics, as well as Singapore and Europe via SEA-ME-WE-4 and SEA-ME-WE5.
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Name: Muhammed Aziz Khan
Best Known for : Founder and chairman, Summit Group
Born Year: 1955
Place of Birth: Dhaka, Bangladesh
Residence : Singapore
Institute of Business Administration, University of Dhaka (IBA).
Armanitola Government High School
Spouse: Anjuman Aziz Khan
Children: 3 daughters
Ayesha Khan (managing director & CEO of Summit Power International)
DrAdeeba Aziz Khan (fellow at Wolfson College, Cambridge University)
Azeeza Aziz Khan (one of the Directors of Summit Group of companies)
Grandchildren: 4 grandchildren
Lt Col (Rtd) Faruk Khan (Member of Parliament (MP) and a former minister)
Zafer Ummeed Khan (vice-chairmen of the Summit Group of Companies)
Latif Khan (vice-chairmen of the Summit Group of Companies)
Farid Khan (vice-chairmen of the Summit Group of Companies)
Recognition and Awards:
2015 Business Person of the Year
DHL & Daily Star Business Awards
Early Life and Education of “Muhammed Aziz Khan” :
Aziz Khan is an army officer’s son. His initial business ventures were with a buddy, whose father died, forcing him into the family import firm. In 1973, Khan, then 18 years old, borrowed Tk 30,000 from his father to join the venture as a partner.
In 1980, he earned an MBA from the University of Dhaka’s Institute of Business Administration (IBA). He attended Dhaka’s Notredame College and Armanitola Government High School.
He began his career as a chemical trader at Old Dhaka’s Chawk Bazar and Urdu Road. Later, he grew his company with the help of well-known businesspeople like Anwar Hossain of the Anwar Group and Din Mohammad of the Phoenix Group. Pubali Bank and Rupali Bank, both owned by the government, provided Khan with early loans. He realized the need of building goodwill in order to facilitate fund mobilization.
Later on, he began trading in plastic. Khan bought his first house in Singapore after becoming a permanent citizen in 1988.
Summit Group, led by Aziz Khan, established the country’s first independent power plant, Khulna Power Company Limited, in 1998. Summit established the country’s first private off-dock facility, Ocean Containers Limited, which is now known as Summit Alliance Ports Limited and handles around 30% of the country’s export and 10% of its import business. Summit Communications Ltd was the first business to create a statewide communications transmission network, covering 70% of Bangladesh and linking Bangladesh to India and Myanmar by terrestrial fiber optics.
IPCO Ltd, a hospitality and real estate firm, is constructing a five-star and three-star hotel, as well as a conference center and 1,000 shops near Dhaka’s international airport.
Khan led Summit Group in forming a joint venture with GE in 2011 to develop facilities for Bangladesh that will generate 327 megawatts of power. This joint venture received $327 million in finance, with the World Bank contributing $112 million.
In 2012, Khan led Summit Group in forming a joint venture with China Energy Group, the country’s largest government-owned corporation, to construct a number of power projects, including a 341 megawatt power plant for which China Energy Group will provide construction and engineering services worth $220 million.
Khan was elected president of the Bangladesh Association of Publicly Listed Companies (BAPLCO) in 2015. He also led Summit Group to an agreement to create Bangladesh’s first high-tech business park, with the company committing to invest $207 million to construct a portion of the park on its 232-acre site in Kaliakor, Bangladesh.
Khan, his wife Anjuman Aziz Khan, daughter Ayesha Aziz Khan, brother Zafar Umayyad Khan, and nephew Faisal Karim Khan were named in the Panama Papers in April 2016 as the owners of six offshore companies, the majority of which were registered in the British Virgin Islands and used a Singapore address. Summit Group claims that it has no business in Panama and that it has no ties to the law firm Mossack Fonseca. It also claims that Khan is not mentioned in “The Panama Papers.”
The Anti Corruption Commission Bangladesh (ACC) has formed a three-member team to probe the money laundering and tax evasion records of 25 Bangladeshi politicians and businesses, including Khan. However, British journalist David Bergman, who is based in Bangladesh, has stated that the only Bangladeshi citizens related to offshore firms revealed by the ICIJ are those who were involved in a previous 2013 data breach involving the British Virgin Islands.
Because of his long-standing commercial ties with Finland, Khan was designated Honorary Consul General of Finland in Bangladesh in May 2016. Aziz Khan, in particular, has led Summit Group in forging solid business ties with Wartsila, a major Finnish company that has supplied machinery and equipment to several of the Summit Group’s power projects.
Khan also helped Summit Group to secure $190 million in a partnership led by Standard Chartered to fund a $335 megawatt power project in 2016. Khan also assisted in the $210 million Asian Development Bank, International Finance Corporation, and Islamic Development Bank direct loan to a Bangladeshi firm in 2016.Summit may potentially float on the Singapore Stock Exchange, making it the first Bangladeshi business to do so, according to Khan.
Khan said in September 2016 that Summit Group has formed a Singaporean firm that will be publicly listed in Singapore and help finance $2.5 billion for projects in Bangladesh, including a liquefied natural gas port and more electricity capacity.
Summit Group stated in January 2017 that it will construct a $500 million LNG facility in Moheshkhali, Bangladesh. GE is an ownership participant in the project. “By implementing this project, we hope to secure a consistent supply of primary energy for the country,” Khan stated. Summit LNG Terminal Co (Pvt) Ltd was bought by Mitsubishi Corporation in August 2018.
JERA purchased a 22 percent interest in Summit Power International in 2019. “Much needed technology and funding for Bangladesh’s fast rising power and energy sector would be accessible from JERA with their enormous experience and balance sheet,” said Summit’s Founder Chairman Muhammed Aziz Khan of the investment. JERA has the potential to be our most valuable partner. This relationship will help us achieve our goal of investing $3 billion in Bangladesh by 2022.
Khan and his family were ranked as Singapore’s 34th wealthiest for the first time in 2018 by Forbes Asia. Muhammed Aziz Khan was named the 37th wealthiest person in Singapore by Forbes in 2020.
Khan tells Bloomberg in 2021 that Summit, JERA, and Mitsubishi Corporation will team up to bid for an estimated USD 2.3 billion in FSRU projects in Payra (Bangladesh), Kerawalapitiya (Sri Lanka), and Pakistan, as he sees demand for storage growing as governments grapple with natural gas price volatility.
◉ Chairman, Summit Group of companies, the largest infrastructure conglomerate in Bangladesh
◉ Chairman, Summit Power International, the largest Independent Power Producer (IPP) in Bangladesh
◉ Chairman, Summit Corporation Limited
◉ Chairman, Summit Power Limited (SPL), a publicly listed company in Bangladesh
◉ Chairman, Summit Holdings Limited
◉ Chairman, Summit Communications Limited
◉ Chairman, Cosmopolitan Communications Limited
◉ Chairman, Summit Technopolis Limited
◉ Chairman, Summit Oil and Shipping Company Limited (SOSCL)
◉ Chairman, IPCO Hotels and IPCO Developments Limited
◉ Chairman, Summit Alliance Port Limited (SAPL), a publicly listed company in Bangladesh
◉ Chairman, SirajKhaleda Trust
◉ Trustee, ProthomAlo Trust
◉ President, Bangladesh Association of Publicly Listed Companies (BAPLC)
◉ Founding President, Bangladesh Energy Companies Association
◉ Honorary Consul General of Finland in Bangladesh
◉ Former Director, National Housing Finance and Investments Limited
◉ Chairman of Summit Asia Pacific Pte. Ltd.
◉ Founder President, Bangladesh Scouts Foundation.
◉ Founder Chairman (2009-2015), ProthomAlo Trust.
>> 2015 Business Person of the Year
>> DHL & Daily Star Business Awards
Muhammed Aziz Khan is a Singaporean permanent resident. Anjuman Aziz Khan is his wife. As his instructor, he met Anjuman. They are dual citizens of Bangladesh and Singapore. Serenity’s Lodge, their Dhaka home, was created by architect Nahas Ahmed Khalil.
Ayesha, Adeeba, and Azeeza are their three daughters. Summit Power International’s managing director and CEO is Ayesha Khan. Dr. Adeeba Aziz Khan, his second daughter, is a fellow at Wolfson College, Cambridge University. Azeeza Aziz Khan, his youngest daughter, is a director of the Summit Group of enterprises. He is the grandfather of four grandkids.
He is the third of seven siblings. Lt Col (Rtd) Faruk Khan, his elder brother, is a former minister and Member of Parliament (MP). The Summit Group of Companies’ vice-chairmen are ZaferUmmeed Khan, Latif Khan, and Farid Khan.
Hamiduzzaman Khan, an artist and sculptor, is one of his closest friends. The Prof Hamiduzzaman Sculpture Park was established by Khan as Bangladesh’s first sculpture park. The country’s longest mural is among the sculptures.
Muhammed Aziz Khan is a successful businessman and a role model for future generations in our nation.
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