Gazi Anowar and Muhammad Ayub Ali :
Orion Group allegedly misappropriated thousands of crore taka from Bangladesh’s private power sector by establishing large-scale power generation projects without competitive tendering, reportedly using its connections with influential ministers in the Awami League government over the past 15 years.
The group’s leader, Obaidul Karim, is said to have lobbied high-ranking officials from previous Awami governments, securing them as business partners to facilitate smooth operations.
Initially, the project was granted to him for three years, but he reportedly extended this period without formal processes.
Furthermore, Karim allegedly exploited loopholes in the Bank Company Act to include non-existent companies.
Before the fall of the Awami League government, Orion Group reportedly expedited the approval of a Tk 10,500 crore loan, facilitated by the Bangladesh Bank through proposals from three state-owned banks – Agrani, Janata, and Rupali – for a power project associated with non-existent companies under Orion Group. Allegations suggest that Tk 4,000crore from these loans were siphoned off through various Orion companies purportedly involved in power projects.
According to data from the Power Development Board (PDB), several private sector power plants were constructed without tender, with many proving unproductive.
Seven Orion Group companies linked to power generation reportedly collected Tk 4,862 crore from the state in “capacity charges” without actual power generation.
These companies include Orion Power Meghnaghat Limited, Dutch-Bangla Power and Associates Limited, Digital Power and Associates Limited, Orion Power Dhaka Limited, Orion Power Dhaka Unit-2 Limited, Orion Power Rupsa Limited, and Orion Power Sonargaon Limited. The existence of Orion Power Dhaka Unit-2, however, could not be verified.
Loans were allegedly secured using fraudulent information, with the Bangladesh Bank approving Tk 10,579 crore despite violations of the Banking Act and the Bank Company Act.
Notably, Janata Bank, which has faced financial difficulties, approved Tk 5,780 crore for a project in Maheshkhali, Cox’s Bazar, under the name Orion Power Dhaka Unit-2. However, due to liquidity issues, the loan was not disbursed.
Karim is also accused of laundering Tk 4,000 crore from these loans. Loans totalling Tk 1,306 crore were secured under Dubai-based companies Energon Technology, First Gen Energy, and China Sunergy Company to develop 100 MW of renewable solar power. Karim’s driver, Khaled Muhammad Abdullah, was listed as a partner in these ventures.
Although Orion Power Dhaka Unit-2 is reportedly non-existent, a Tk 1,076 crore loan was taken in its name, with China Fuxian Energy listed as a 60 per cent shareholder.
Other loans include Tk 811 crore for Orion Power Sonargaon Limited to produce 104 MW of electricity, with a default amount nearing Tk 500 crore, and Tk 235 crore for Orion Power Meghnaghat Limited under the Quick Rental scheme.
Additional loans included Tk 625 crore for Orion Power Rupsa Limited, Tk 102 crore for Dutch-Bangla Power and Associates Limited, and Tk 340 crore for Digital Power and Associates Limited.
Reports indicate that Karim used influential ministers, MPs, and senior Awami League leaders as collaborators. Minister Mirza Azam reportedly became a 40 per cent partner in Digital Power and Associates Limited, while Alauddin Ahmed Chowdhury Nasim, a former MP, held a 30 per cent share in Dutch-Bangla Power and Associates Limited.
Former MP Shamim Osman was allegedly given a 4 per cent share in Orion Power Sonargaon Limited, with Mirza Azam receiving 38.4 per cent and Karim retaining 57.6 per cent. Additionally, Azam was made a 19.4 per cent shareholder in Orion Power Rupsa Limited.