Settlement Reached in Yadana Pipeline Lawsuit
March 21 2005 - 2:22PM
PR Newswire (US)
Settlement Reached in Yadana Pipeline Lawsuit EL SEGUNDO, Calif.,
March 21 /PRNewswire-FirstCall/ -- The parties to several lawsuits
related to Unocal's energy investment in the Yadana gas pipeline
project in Myanmar/Burma announced today that they have settled
their suits. Although the terms are confidential, the settlement
will compensate plaintiffs and provide funds enabling plaintiffs
and their representatives to develop programs to improve living
conditions, health care and education and protect the rights of
people from the pipeline region. These initiatives will provide
substantial assistance to people who may have suffered hardships in
the region. Unocal reaffirms its principle that the company
respects human rights in all of its activities and commits to
enhance its educational programs to further this principle.
Plaintiffs and their representatives reaffirm their commitment to
protecting human rights. DATASOURCE: Unocal CONTACT: News Media,
Paul Silva, +1-310-726-7733, or Investors, Robert Wright,
+1-310-726-7665, both of Unocal
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