Financial Daily from THE HINDU group of publications
Saturday, Oct 26, 2002
Financial Daily from THE HINDU group of publications Saturday, Oct 26, 2002 |
|
|
|
|
|
Corporate
-
New Projects Chemplast PVC project approval hits eco hurdle Our Bureau
CHENNAI, Oct. 25 THE Tamil Nadu Government has not approved Chemplast Sanmar's proposed PVC project because of concerns over possible adverse environmental impact. Disclosing this in the Assembly during the Question Hour on Friday, the Minister for Forests and Environment, Mr P. Mohan, said that because of the Government's concern for the environment, it had not accorded for Chemplast Sanmar's PVC project at Cuddalore. The Minister was replying to a question on whether the State Government would consider preventing the establishment of new industrial units at the SIPCOT industrial estate in Cuddalore because of environmental problems. Mr Mohan said the State Government was aware of environmental concerns and would ensure that the public do not suffer. Earlier, replying to another question if the Government would cancel any approvals granted to Chemplast Sanmar's project, the Minister categorically stated that the Government had not cleared the project and the Pollution Control Board was yet to issue a no-objection certificate. The company had approached the Tamil Nadu Pollution Control Board for clearance on May 5, 2002. The Government had sought the opinion of the District Collector. However, the project has raised concerns about heavy emissions and effluents. Further, it would involve massive drawal of ground water. Therefore, the project had not been cleared, he said. It may be recalled that Chemplast Sanmar Ltd plans to set up a 1,70,000-tonne PVC project at Cuddalore. According to reports, the company had achieved financial closure for the Rs 500-crore project, and was awaiting the pollution control board's clearance for commencing work. IFC Washington, DEG of Germany and IDBI are funding the project and taking an equity stake. Chemplast Sanmar is the flagship company of the Chennai-based Sanmar group.
Send this article to Friends by
E-Mail
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | Home |
Copyright © 2002, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|