Support withdrawn
the 400 mw Maheshwar hydel dam project in the Khargaon district of Madhya Pradesh has run into trouble as the two German companies, VEW Energie and Bayernwerk, have withdrawn from the project. The companies were slated to acquire 49 per cent of the equity in the Rs 1,569-crore Maheshwar project, being promoted by the S Kumar group. They took the decision after a German environment and human rights organisation, Urgewald, which recently conducted an on the spot investigation "helped German companies to withdraw'.
A Bayernwerk spokesperson stated: "Our contracts have run out. We would only be willing to consider involvement in the project anew if the authorities are able to provide land-for-land resettlement, with land of sufficient quality as per the conditions of the Narmada (Water and Dispute Tribunal) Award.'
Related Content
- Regional economic outlook: Asia and Pacific- sailing into headwinds
- World development report 2022: finance for an equitable recovery
- Supporting Indian farmers: price support or direct income/investment support?
- 'Failing to support GM crops single most damaging element for growth'
- Free CFL bulb distribution project cancelled
- Congress Party has neither been consistent nor transparent in its conduct over the creation of a Telangana state