Oz fund being used to make n-weapons in India, US: Report
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Australian government's 74 billion dollar Future Fund has come under scrutiny after a report said that the money was being used to make components for nuclear weapons for US, Britain, France and India.
According to 'The Age', records obtained under freedom of information laws said that funds of 135.4 million dollars invested in 15 companies involved in the design, production and maintenance of nuclear weapons for the United States, Britain, France and India.
It further added that about 3.8 million dollars of this is invested in Larsen & Toubro, a Mumbai-based company that is involved in building a fleet of nuclear-armed submarines for India and had also helped test a launch system for nation's nuclear missiles.
When asked to comment on the report L&T spokesman said, "We would not like to comment on it."
The report stressed that any investment involving the production of nuclear weapons for India was particularly controversial as it was not a signatory to NPT treaty.
The report quoted experts from the International Campaign to Abolish Nuclear Weapons who claimed the investments contravene the fund's policy because the manufacture of nuclear weapons is illegal in Australia.
"The Future Fund has a policy not to invest in activities that would be illegal in Australia and it's absolutely clear that it would be illegal in Australia to do what these companies are doing," the group's Tim Wright told the daily.