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Dabhol and MSEB to look in to options
The Dabhol Power Corporation (DPC) and Maharashtra State Electricity Board (MSEB) on Wednesday agreed to look at options for reducing the cost of power.
The Dabhol Power Corporation (DPC) and
Maharashtra State Electricity Board (MSEB) on Wednesday agreed to look at options for reducing the cost of power.
Power Minister Suresh Prabhu was on Wednesday briefed about the agreeable solution emerging out of the negotiations which are being held in Mumbai.
The minister confirmed that the government remains committed to make all possible efforts to resolve the issues concerning the project in consultation with all stakeholders.
Enron and the Maharashtra State Electricity Board (MSEB) have been locked in a wrangle over payment for power purchased by the utility.
The project was once touted as a showcase of India's ambitious attempts to open up its economy but the long-running dispute with Enron has tainted the country's investment image.
Indian lenders to Dabhol began a meeting on Wednesday to devise a strategy to salvage the project, which is about 90 percent complete and has been funded with debt of $ 2 billion. Bureau Report
Power Minister Suresh Prabhu was on Wednesday briefed about the agreeable solution emerging out of the negotiations which are being held in Mumbai.
The minister confirmed that the government remains committed to make all possible efforts to resolve the issues concerning the project in consultation with all stakeholders.
Enron and the Maharashtra State Electricity Board (MSEB) have been locked in a wrangle over payment for power purchased by the utility.
The project was once touted as a showcase of India's ambitious attempts to open up its economy but the long-running dispute with Enron has tainted the country's investment image.
Indian lenders to Dabhol began a meeting on Wednesday to devise a strategy to salvage the project, which is about 90 percent complete and has been funded with debt of $ 2 billion. Bureau Report