S Alam Group, Largest Private Bangla Indust Grp., Personal Friend & Backer of Hasina is Backing GCM / Power China For Coal Supply - The BIG Money Will Talk in Bangla!!20 May 2024 07:01
S Alam Group supporting GCM/PowerChina Phulbari proposal - they are LARGEST Bangla private industry with annual turnover over $4 Bn and employ over 89,000 people.
They own SS POWER Ltd which approach GCM re: Coal purchase.
We understand Economic Crisis (and Why) which impact Industrial base / competitiveness - S Alan Group (and others) want this address and ONLY near term solution is Domestic Coal production.
S Alan Group are 'super players' in Bangladesh, have direct friendship with Prime Minister Hasina & major supporter of Political Party.
If they (more then even ANY other Industrialists) want it - they GET it!
Even with money laundering allegation against S Alam (for $billion dollar money transfer to Singapore to build businesses there), they get High Court overturn.
*We see S Alam Group Chairman Mr Saiful Alam, Sons and Directors of company with Sheikh Hasina on election victory (source: en.barta24).
It is not surprising when we have statement like this - "The State Minister for Power, Energy and Mineral Resources even spoke in Parliament on the extraction of those Coal resources, citing that PHULBARI COAL DEPOSIT is the Country's only REALISTIC Open Pit Coal option." (29th Jan RNS) - follow by BBC article etc against WORSENING Economic backdrop.
It is because major Govt backer S Alam Group (and other Industrialists) have decided this is Energy path for country to save Country's Manufacturing / Industrial base.
If course investors can always prefer to sit out and wait for what is potentially biggest riser stock anywhere on AIM - follow the 'in country' money men (and ALL other Economic / Political logic) or bb trolls!
The S Alam support for Phulbari Coal is HUGE factor - watch!
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