Mumbai: Greenpeace on Tuesday said that a German bank has pulled out of the proposed Jaitapur nuclear power project in coastal Maharashtra citing "risks in terms of sustainability and reputation". The decision was made before the Japan disaster, said the environmental body.

Prior to Japan

"Commerzbank, the second largest bank in Germany, pulls out from Jaitapur nuclear project. The decision was communicated to Greenpeace via e-mail and was made prior to the catastrophe in Japan," said Greenpeace.

It added, "Commerzbank pulled out citing sustainability and reputational risk."

In its letter to Greenpeace, the bank said: "Since business related to nuclear power by process-definition has to be routed through our Reputational and Sustainability Management (RSM), we were sure that Commerzbank will not invest in this project. After having contacted all relevant departments, we can confirm this."

Along with Banktranck, "Greenpeace is having a campaign on dodgy deals and we are focusing on Jaitapur," said Hozefa Merchant, Greenpeace, India, "As part of that, we met banks and presented our case on why they should not invest in Jaitapur."

The e-mail communication from the bank was in response to Greenpeace's letter of February 28, 2011 to the Chairman of Commerzbank, Martin Blessing.

In the wake of severe damage to Japan's reactors and the danger of radiation, the focus on the controversial 9900 MW nuclear power project at Madban village of Jaitapur in Ratnagiri district, has grown tremendously in the last few days.

While Environment Minister Jairam Ramesh yesterday said at a CII conclave in Delhi that additional safeguards would be put in place before the final environmental clearance to the Jaitapur plant is given, Prime Minister Manmohan Singh on Monday ordered a review of safety at India's nuclear plants.

Power shortages

However, in Maharashtra the government and particularly its chief minister, Prithviraj Chavan, have been batting for the nuclear power plant and trying to convince the opposition that the project is essential for the state which has an acute power shortage.

Precaution: Call to send families back

Some Indian companies with operations in Japan are taking precautionary steps, asking their Indian staff there to relocate their families and offering them the option to return themselves if the situation warrants.

Global software major Infosys Technologies advised its Indian employees to send their families back to India. It has also given its staff there the choice to return if the situation warrants it, a top company official said on Tuesday. Tata Consultancy Services also said it was ready to relocate while Wipro also said it was taking similar measures.

— IANS