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Confidentiality agreement for DPC sale to be signed next week
The confidentiality agreement for sale of Enron`s Dabhol Power Company (DPC) will be signed next week by the energy major with Tata Power Company (TPC) and BSEs ltd, as talks ended on a positive note in Singapore.
The confidentiality agreement for sale of Enron's Dabhol Power Company (DPC) will be signed next week by the energy major with Tata Power Company (TPC) and BSEs ltd, as talks ended on a positive note in Singapore.
"Enron, GE and Bechtel have agreed for carrying the due diligence of their $ three billion plant and will sign the confidentiality agreement to be finalised by the lenders, early next week", a senior financial institution official told a news agency from Singapore on Friday.
Enron India managing director K Wade Cline, however, said the multinational had assured both the Indian and foreign lenders that he would apprise the other two shareholders, GE and Bechtel, which hold 10 per cent stake each in DPC, before coming to a final decision.
Cline said that Enron "will communicate its final decision to the financial institutions once the other two shareholders concur for a due diligence, which will begin soon".
Industrial Development Bank of India (IDBI) chairman P P Vora said the two-day marathon negotiations had ended on a "positive note and a road map has been worked out" to go ahead with the proposed sale of DPC's 2,184 MW plant in Guhagar, Maharashtra.
Bureau Report
"Enron, GE and Bechtel have agreed for carrying the due diligence of their $ three billion plant and will sign the confidentiality agreement to be finalised by the lenders, early next week", a senior financial institution official told a news agency from Singapore on Friday.
Enron India managing director K Wade Cline, however, said the multinational had assured both the Indian and foreign lenders that he would apprise the other two shareholders, GE and Bechtel, which hold 10 per cent stake each in DPC, before coming to a final decision.
Cline said that Enron "will communicate its final decision to the financial institutions once the other two shareholders concur for a due diligence, which will begin soon".
Industrial Development Bank of India (IDBI) chairman P P Vora said the two-day marathon negotiations had ended on a "positive note and a road map has been worked out" to go ahead with the proposed sale of DPC's 2,184 MW plant in Guhagar, Maharashtra.
Bureau Report