Financial Daily from THE HINDU group of publications
Saturday, Feb 01, 2003
Financial Daily from THE HINDU group of publications Saturday, Feb 01, 2003 |
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Industry & Economy
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Power Govt to hold talks with GE, Bechtel on Dabhol Our Bureau
NEW DELHI, Jan. 31 THE Government is scheduled to hold meetings in the coming week with GE and Bechtel, promoters of Dabhol Power Corporation (DPC), to restart power generation from the project. ``GE has asked for a meeting next week. I have received a communication to this extent'', the Power Secretary, Mr R.V. Shahi, said here on Friday. Speaking at the sidelines of a workshop on the power sector, Mr Shahi said Bechtel would also be attending the meeting. The power project has been lying idle for nearly one-and-half years ever since it ran into financial difficulties with the Maharashtra State Electricity Board (MSEB) over payment of power bills. Enron has a 65 per cent stake in Dabhol, while MSEB has 15 per cent with GE and Bechtel holding the remaining 20 per cent. Following pressure from the Government, National Thermal Power Corporation (NTPC) agreed to operate the power station. However, it required the assistance of the equipment suppliers, GE and Bechtel to operate the plant. The Maharashtra Government agreed to buy power from the project at Rs 2.80 per unit.
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