Financial Daily from THE HINDU group of publications
Thursday, Oct 06, 2005
Financial Daily from THE HINDU group of publications Thursday, Oct 06, 2005 |
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Corporate
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Society & Development BHP Billiton in funding pact with Prasad Eye Institute Our Bureau
Bhubaneswar , Oct. 5 THE Australian mining major, BHP Billiton, has launched its Development Foundation for India and announced its first funding agreement with the L.V. Prasad Eye Institute for the setting up of an eye hospital in Bhubaneswar. The Foundation, modelled on other foundations established by BHP Billiton around the world, will contribute to education, health, rural development and indigenous development, said Mr Don Carroll, President of BHP Billiton India, on the occasion of signing of their agreement with L.V. Prasad Eye Institute here. The Foundation, with an initial budget of Rs 13 crore over three years, has been established to invest in India's human and social capabilities, in line with the company's commitment to social responsibility and sustainability. Mr M.S. Ramachandran, Chairman of BHP Billiton India Development Foundation, said the Foundation's principal role was to select partners for long-term community development projects particularly in regions where BHP Billiton is actively engaged in exploration and development activity. "We want the Foundation's work to be a clear demonstration of our commitment to ensuring India's broader communities will benefit from the success of our mining activities in the country,'' he said. The Foundation, based in New Delhi, will work primarily through non-governmental organisations. It will provide Rs 2.2 crore to support the provision of a high quality surgical facility in the Bhubaneswar Eye Institute being set up by L.V. Prasad Eye Institute, as well as the costs of fitting out two outpatient rooms and providing free outpatient care for the poor for 12 months.
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