Moneycontrol PRO
Check Credit Score
Check Credit Score
HomeNewsBusiness

CGPL fully compliant with social environment norms: Tata Power

Tata Power's statement has come after reports that World Bank's probe body CAO has raised concerns over IFC's insufficient action to address environmental norms violation by Coastal Gujarat Power Ltd (CGPL). The Tata Power arm CGPL runs the ultra mega power project at Mundra.

March 23, 2017 / 03:37 PM IST
Electricity, gas, water supply growth demonstrate an encouraging recovery by 4.4 percent.

Electricity, gas, water supply growth demonstrate an encouraging recovery by 4.4 percent.

 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Tata Power today said its arm Coastal Gujarat Power Ltd (CGPL) is fully compliant with all social and environmental norms and it will not succumb to vested interest elements as well as unjust rhetoric.

Tata Power's statement has come after reports that World Bank's probe body CAO has raised concerns over IFC's insufficient action to address environmental norms violation by Coastal Gujarat Power Ltd (CGPL). The Tata Power arm CGPL runs the ultra mega power project at Mundra.

"As the Mundra plant is fully compliant with all environmental and social norms and same having been endorsed by the Ministry of Environment and Forest, Gujarat Pollution Control Board and other statutory and independent bodies, it continues to remain neighbours' choice," Tata Power said in a BSE filing today.

It further said, "As is ingrained in the Tata Power culture, we would always remain open to dialogue and would be happy to provide solutions and support to people concerned, but will not succumb to vested interest elements or unjust rhetoric."

Elaborating further Tata Power said, "The World Bank Compliance Advisor Ombudsman (CAO) reflects the observations on the internal processes of the IFC and, thus, it will only be appropriate for the IFC to respond in details ... we are clarifying that last time around too on the same issue, the CAO's statement was not upheld by the competent authority at the World Bank."

The company said, "As per the information available with CGPL, MASS (the association of fish workers' rights') has certain vested interest issues and issues beyond the coastline area of CGPL. Mundra UMPP is just about one per cent of the Kutch coastline and has been more than responsive in its association with the community around the project and remains committed to working with community at all times to come."

The CAO, in its second monitoring report in relation to audit of CGPL following complaint by fishing communities, said there was a need for rapid, participatory and remedial approach to assess and address project impacts raised by the complainants.

first published: Mar 23, 2017 03:34 pm

Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347