Adani Group denies reducing Tarali project costs to cut statutory fees
The conglomerate clarified that the lower figures in a clearance proposal represented only preliminary site investigation and survey costs.
The Adani Group has denied claims that Adani Green Energy Ltd (AGEL) lowered the estimated cost of its Tarali pumped storage project (PSP) to reduce statutory obligations, according to The Economic Times.
The group stated that the figures mentioned in an online forest and wildlife clearance proposal pertained only to preliminary surveys and site investigations.
A spokesperson for the group said the State Board for Wildlife (SBWL) had considered the total project cost to be Rs 5,675 crore.
The group explained that the Rs 56.75 crore figure in the online proposal represented site investigation costs, which are approximately 1 per cent of the total project cost.
The Indian Express reported that AGEL revised an affidavit for the 1,500-MW project in Maharashtra, which allegedly reduced the mandatory wildlife conservation contribution to the Sahyadri Tiger Reserve from Rs 227 crore to about Rs 2.27 crore.
The conglomerate argued the project is located on private, non-forest land 3.2 km from the Koyna wildlife sanctuary and does not affect any notified Eco-Sensitive Zone (ESZ) or tiger corridor.
The Centre has ordered a probe into the matter.