42 metre high mountain of waste at this garbage plant

Agencies

January 1, 2021

Gurugram, Jan 1: Due to lack of a waste-to- energy plant, a mountain of waste reaching up to nearly 42 metres has accumulated at the Bandhwari garbage plant in Gurugram.

The waste-to-energy plant is yet to be set up by Ecogreen Energy Private Limited at the site. The company has a contract to collect house waste from Gurugram and Faridabad districts.

The Municipal Corporation of Gurugram (MCG) pays crores of rupees every month to the company for garbage collection.

According to MCG officials, nearly 10 acres of land is required for the waste-to-energy plant while the Bandhwadi plant is spread over 30 acres of municipal land.

In 2017, Ecogreen Energy had started work on setting up a waste plant at the same site. For this, 10 acres of land was provided by the MCG at the Bandhwari plant but due to the non-construction of the plant, three million tonnes of garbage has accumulated at the proposed plant site.

The corporation officials informed that the civic body has paid more than Rs 126 crore to Ecogreen in 31 months but the company did not begin the work even after a year of getting environmental clearance.

The officials said nine trommel machines are working to reduce the mountain of garbage. The height of one part of the garbage mountain had reached 42 metres. Nearly 1,700 tonnes of garbage from Gurugram and Faridabad is reaching the Bandhwari landfill daily.

According to information through a Right To Information (RTI) query, fines have been imposed several times on Ecogreen.

As per a National Green Tribunal (NGT) order, the State Pollution Control Board imposed a fine of Rs 25 lakh on November 11, 2019, on the company for spreading pollution and harming the environment. The Faridabad Municipal Corporation did not take action to cancel the company's contract till June 2020, despite imposing a fine of more than Rs 1.57 crore.

"Nine trommel machines are working to reduce the garbage mountain. The company's representatives have been instructed to set up the waste-to- energy plant soon," said Dheeraj Kumar, Joint Commissioner, Swachh Bharat Mission, MCG.

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Adani Group in Crisis: $30 Billion Wiped Out after US Bribery and Fraud Charges Emerge

News Network

November 21,2024

Shares of Adani Group companies lost about $28 billion in market value in morning trade on Thursday after US prosecutors charged the billionaire chairman of the Indian conglomerate in an alleged bribery and fraud scheme.

Gautam Adani's flagship company Adani Enterprises tumbled 23 per cent, while Adani Ports, Adani Total Gas, Adani Green, Adani Power, Adani Wilmar and Adani Energy Solutions, ACC , Ambuja Cements and NDTV fell between 20 per cent and 90 per cent.

Adani group's 10 listed stocks had a total market capitalisation of about $141 billion at 0534 GMT, compared to $169.08 billion on Tuesday.

US authorities said Adani and seven other defendants, including his nephew Sagar Adani, agreed to pay about $265 million in bribes to Indian government officials to obtain contracts expected to yield $2 billion of profit over 20 years, and develop India's largest solar power plant project.

Adani Green in a statement on Thursday said the US Justice Department had issued a criminal indictment against board members Gautam Adani and Sagar Adani and the Securities and Exchange Commission had issued a civil complaint against them.

The US Justice Department also included Adani Green board member Vneet Jaain in the criminal indictment, it said.

Adani Green's units had decided not to proceed with the proposed US dollar denominated bond offerings due to developments, it added.

"Investors will shy away from Adani Group stocks ... and that's what this sharp selling is signifying," said Saurabh Jain, assistant vice president of retail equities research at SMC Global Securities.

"This could hurt the credibility of the group and maybe borrowing costs will rise," he said.

The indictment comes nearly two years after US shortseller Hindenburg Research alleged that Adani had improperly used tax havens and was involved in stock manipulation, allegations the conglomerate denied.

Also in early Asian trading on Thursday, Adani dollar bonds slumped, with prices down 3c-5c on bonds for Adani Ports and Special Economic Zone. The falls were the largest since the Adani Group came under a short-seller attack in February 2023.

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