To
Mr. John J. Mack
The Chairman,
Morgan Stanley, 1585 Broadway
New York, NY 10036
Mr. James P. Gorman
Chief Executive Officer,
Morgan Stanley, 1585 Broadway
New York, NY 10036
Sub: Investment of Morgan Stanley in a controversial & environmentally
damaging project in Andhra Pradesh State, India – East Coast Energy
Private Limited promoted by Asian Genco Pte Ltd
Dear Sir,
This is to bring to your notice that the Consortium led by Morgan Stanley has reportedly invested in a controversial, environmentally damaging and livelihood depriving project in Bhavanapadu village, Srikakulam District, Andhra Pradesh State of India. The project is called East Coast Energy Private Limited a subsidiary Asian Genco Pte Ltd.
Thermal Power Project in Ecologically Sensitive Area
This is a project for setting up a 2640 MW Coal Based Thermal Power Plant (Bhavanapadu Thermal Power Plant) in ecologically sensitive wetlands on the East Coast of Andhra Pradesh, India. This project is affecting the livelihoods of the local populace (small farmers and inland fisherman) in the backward rural area of Srikakulam District of Andhra Pradesh State. These people are surviving on meager wages and small means of living and this project has pretty much taken that away from them and threatens their livelihoods and survival..
The Important Bird Area Site (IBAS) - Telineelapuram- is within 2.5 Km from the project site, providing a habitat to a variety of migratory birds and several endangered species. All these facts were hidden or suppressed from the general public, the project evaluating authorities and potential investor groups like yours. A visit to the site would reveal all the facts and will be an eye opener.
Corporate Values
This project is being located in Wetlands of considerable ecological significance and in the close vicinity of the habitat of migratory birds, depriving the meager livelihood of small farmers and inland fishermen apart from causing ecological disaster in the area. Doesn’t this go against corporate values of Morgan Stanley and commitment to the Society? Or Morgan Stanley does not care where and how profits are generated from?
I see that the following is mentioned on your corporate website- “Morgan Stanley is dedicated to making a positive contribution to society through our focus on the environment, our communities, responsible business practices, strengthening the next generation of citizens, and our people” . I urge you to live up to your stated corporate Global Citizenship priorities by considering disassociation from this project.
Public Opposition to the Project & Repression
The local population is severely opposed to the project and has been protesting against it for over two years. However, the forces behind the project which seem to have a political clout and have a vested interest in it’s implementation, have seen to it that the opposition to the project be suppressed ruthlessly by mobilizing a massive police force. There have been several clashes which have resulted in indiscriminate, unjustified use of force and Police Firing on 28th February 2011, leading to killing of two and injuring many innocent, peaceful, unarmed protestors. The huts of these protestors were set fire as retaliation and many of them have been arrested and being terrorized. Amnesty International is reported to have urged Indian authorities to order an impartial enquiry into the Police firing
Political &Bureaucratic Nexus
The inflow of siphoned money of Political & Bureaucratic Nexus is suspected into this project, which makes it even worse. There is a need to come clean on the investor portfolio of this project and so far that does not seem to have happened. This is more disconcerting given the Corruption Scams involving Politicians, Bureaucrats, and Criminals recently, in India. Therefore, I request that the entire matter be investigated, in the right spirit, for reviewing the continuation of investments of Morgan Stanley in the project.
Regards,
J. Rama Rao.
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