Source: [themalaymailonline]
KUALA LUMPUR, Nov 2 — Mudajaya Group Bhd is being investigated for corruption over the construction company’s coal-fired power plant project in India undertaken through its Indian branch, RKM Powergen, and other Indian companies, Australia’s Sydney Morning Herald (SMH) reported today.
The Australian daily noted that the Indian authorities are investigating the coal allotment bid for graft, involving one of RKM Powergen’s partner companies and its “connection to an Indian politician”, amid another corruption probe on a separate AU$5 billion (RM15 billion) coal-mining deal involving a subsidiary of international construction company, Leighton Holdings.
“Mr Savage resigned as a director of Mudajaya earlier this month in the wake of Fairfax Media reports about alleged corruption at Leighton International under his stewardship,” SMH reported today, referring to David Savage, who used to head Leighton International.
“Mr Stephens, who has been instrumental in Leighton International’s success in Malaysia, remains on the board of Mudajaya,” added SMH, referring to former Leighton Asia director Asgari Stephens.
The Edge newspaper reported last month that Mudajaya was looking at building and operating two ultra mega power plants with a capacity of 4,000 MW each in India, while it is currently undertaking a 1,440 MW coal power plant through RKM Powergen in the South Asian country.
The daily quoted Mudajaya group managing director Anto Joseph as saying that the company and its existing partner in India, RK Power Pvt Ltd, are looking for another partner to form a consortium to bid for the power plant projects.
English daily The Star reported last August that Mudajaya’s second quarter net profit had fallen by 23 per cent to RM46.1 million, from RM60 million a year ago, because of a “tapering off” in equipment delivery for the coal-fired power plant in India.
SMH also reported today that India’s Central Bureau of Investigation is probing a Leighton Holdings subsidiary, Thiess, for corruption after it won a A$5 billion (RM15 billion) Indian coal-mining deal in partnership with Minecs Finvest, a company owned by the brother of India’s former coal minister, Santosh Bagrodia.
The Thiess-Minecs Finvest joint venture had won the right to mine the huge Pakri Bawadih coal deposit in Jharkhand state in 2010.
SMH’s report comes after Leighton Holdings said last month that its overseas corruption problems were restricted to Indonesia and Iraq.
The Australian daily quoted Thiess as denying any impropriety in the India coal deal, saying that Bagrodia was no longer coal minister at the time of the award of the contract.
“The Thiess India contract is a small part of a big ‘Coalgate’ scandal that has gripped India over the past 18 months. The Indian government is alleged to have awarded massive coal licences to politically connected public and private companies at prices far below market value,” SMH wrote.
- See more at: http://www.themalaymailonline.com/money/article/malaysias-mudajaya-under-probe-over-indian-coal-plant#sthash.rLvNu1SN.GzOrYoeM.dpuf
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