In hot water
Uncertainty clouds the Bujagali dam project in Uganda as aes Nile Power Limited has pulled out of it. The company, a subsidiary of the us -based private power producer aes Corporation, was to build, own and operate the 200-megawatt hydropower station. It will write off about us $75 million of its investment funds in the third quarter. The project has been mired in controversy, with environmentalists resolutely protesting it and the us government probing into allegations of corruption regarding "improper' payments by promoters.
The company stresses that economic reasons are responsible for its pullout. Dale Perry, project director of Bujagali in aes Corp, blamed it on "lowered returns, balanced against increased risk.'
Meanwhile, the greens, who termed the project socially and environmentally destructive, are relieved. Co-sponsor World Bank has, however, decided to go ahead with the project.
Related Content
- Status report by the Municipal Corporation of Delhi regarding lack of amenities in an unauthorized colony in Delhi, 06/02/2025
- Order of the National Green Tribunal regarding clearing the Delhi stretch of Yamuna from encroachment, 06/02/2025
- Order of the National Green Tribunal regarding dumping of treated water into drains by NOIDA Authority, 06/02/2025
- Action taken report by the state of Rajasthan regarding removal of encroachment in and around Dharma talab, Raila, Bhilwara district, Rajasthan, 05/02/2025
- Order of the National Green Tribunal regarding pollution of waterbodies in Punjab, 04/02/2025
- Judgment of the Supreme Court regarding pollution caused by untreated effluents discharged by tanneries and other industries in Tamil Nadu into the Palar river, 30/01/2025