BANKS DODGY DEALS CAMPAIGNS
Sections
Banks Dodgy Deals Campaigns
Our campaigns
Banks and Climate
Banks and Human Rights
Banks and Nature
Our projects
Tracking the NZBA
Banks and Russia
Banks and Steel
Tracking the Equator Principles
Tracking the PRBs
Find a Better Bank
Banks and the OECD Guidelines
Media
News Publications
Raiffeisen Out! Bank.Green End Coal Finance Plastic Banks Tracker Defund TotalEnergies Financial Exclusions Tracker Equator-Complaints.Org Don't Buy into Occupation Banks & Biodiversity Forests & Finance Drop JBS StopEACOP Fossil-Free Finance
BankTrack
About BankTrack Organisation Our team Our board Our annual reports Funding and finances Guiding principles Our history BankTrack in the media Team up with us Our privacy policy Donate Visit us
Successes Contact BankTrack
Donate Mailing list Facebook Twitter Linkedin Login
Home › Partner news ›
Partner News

Deutsche Bank cancels interest in Jaitapur nuclear project India

2011-03-22 | New Delhi, Berlin
By: urgewald, Greenpeace
Contact:

For more information, contact:

Karuna Raina, Greenpeace India: (91)-9901799669

Heffa Schuecking, urgewald: (49)-160-96761436

climate@banktrack.org

 

Photo: -
2011-03-22 | New Delhi, Berlin
By: urgewald, Greenpeace
Contact:

For more information, contact:

Karuna Raina, Greenpeace India: (91)-9901799669

Heffa Schuecking, urgewald: (49)-160-96761436

climate@banktrack.org

 

Normal 0 21 false false false MicrosoftInternetExplorer4

India's Nuclear Power Corporation (NPCIL) encounters difficulties in raising funds for a new nuclear plant situated in a earth quake prone zone. Earlier this year, the company invited over a dozen large banks from around the world to participate in financing the construction of the world's largest nuclear complex near the town of Jaitapur in Western India. While Germany's Commerzbank turned down this invitation, other international banks such as BNP Paribas, Crédit Agricole, Citibank and Deutsche Bank expressed interest in participating in the project.

Last week, people close to the situation confirmed to NGOs, enquiring about the possible role of Deutsche bank in this project, that Deutsche bank has decided to cancel its participation in the bidding process for Jaitapur.

"We welcome this decision of Deutsche Bank and call on other banks to follow suit," says Heffa Schuecking, director of the German environment and human rights organization ‘urgewald'. Jaitapur is one of the world's most controversial nuclear projects as it is located in a high risk zone for earthquakes.

The Indian Government, however, ignored these risks during site selection for the project. According to Karuna Raina of Greenpeace India, "India not only has an alarming track record regarding nuclear hazards but also a complacent safety culture." She points out, that in 1994 for example, the containment of the Kaiga nuclear power plant in the Indian State of Karnataka collapsed due to flawed construction.

"It is astonishing that after ‘Fukushima', the Indian government is still willing to gamble on Jaitapur being different. Responsible banks should back away from such highly irresponsible projects, especially when located in a earthquake zone; we expect banks to learn at least that lesson from the disaster in Japan" warns Yann Louvel, climate and energy coordinator of the international NGO network BankTrack.

Among the other banks that have been approached to finance Jaitapur are HSBC, Standard Chartered, Société Génerale, Crédit Agricole, Citibank and Santander. Financial advisor for the project is BNP Paribas.

BankTrack, Greenpeace and urgewald have written to all banks asking them to dissociate themselves from this project.

 

See also:

http://www.greenpeace.org/india/en/

http://www.banktrack.org/show/dodgydeals/jaitapur_nuclear_power_plant

 

 


Attachment to a link to RTI

http://articles.timesofindia.indiatimes.com/2011-03-16/india/28699015_1_jaitapur-nuclear-power-plant-earthquake

Banks

Deutsche Bank

Germany
Active
Dodgy Deals
There are no active project profiles for this item now.

Jaitapur nuclear power plant

India
Project
On record
Nuclear Electric Power Generation

Jaitapur nuclear power plant

India
Sections
Banks Dodgy Deals Campaigns
Our campaigns
Banks and Climate Banks and Human Rights Banks and Nature
Our projects
Tracking the NZBA Banks and Russia Banks and Steel Tracking the Equator Principles Tracking the PRBs Find a Better Bank Banks and the OECD Guidelines
Media
News Publications
Raiffeisen Out! Bank.Green End Coal Finance Plastic Banks Tracker Defund TotalEnergies Financial Exclusions Tracker Equator-Complaints.Org Don't Buy into Occupation Banks & Biodiversity Forests & Finance Drop JBS StopEACOP Fossil-Free Finance
BankTrack
About BankTrack Organisation Our team Our board Our annual reports Funding and finances Guiding principles Our history BankTrack in the media Team up with us Our privacy policy Donate Visit us
Successes Contact BankTrack
Vismarkt 15
6511 VJ Nijmegen
The Netherlands
Contact@banktrack.org
Donate Mailing list Facebook Twitter Linkedin
©2023 BankTrack
BankTrack is a registered charity in the Netherlands (ANBI) - RSIN 813874658
Find our privacy policy here

Stay up to date

Sign up now for all BankTrack's news


Make a comment

Your comment will be reviewed, before being posted