Dhaka, April 13 -- The completion of BEXIMCO's 30 MW Korotoa Solar Plant has become uncertain due to a funding shortfall, as the central bank and investors have shown reluctance to extend support to the sukuk-issuing company.

BEXIMCO raised Tk 30 billion by issuing sukuk bonds in 2021 to construct two solar power plants and expand its textile division. Of the two plants, the 200 MW Teesta Solar Plant came into operation in August 2023, while Korotoa has been partially built.

The Beximco conglomerate fell into ruin, leading to workers' unrest, with the unveiling of a hefty amount of defaulted loans after the 2024 ouster of the Awami League regime and the subsequent arrest of the group's Vice Chairman Salman F Rahman.

Amid the financial ...