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3 US firms interested in DPC: IDBI

The Industrial Development Bank of India said on Monday that three US energy companies have evinced interest in taking over the troubled $3 billion Dabhol Power Company.

IDBI also said that Indian financial institutions were ready to take over the DPC if its promoters Enron pulled out, but said FIs would not run the company.

"In the worst circumstances (Enron pulling out), we can take over the power project," IDBI chief SC Chakravarti told reporters in New Delhi.

He, however, said the FIs would not run the company. An operations and maintenance contractor would be appointed to run the show.

Enron has threatened to walk out of the 740 mw first phase of the project, which is operational, and 1,444 mw second phase of the project to be commissioned shortly, over payment disputes with the Maharashtra State Electricity Board.

Indian financial institutions are meeting in Delhi later today to discuss the future course of action.

Asked about the central bailout package, involving sale of power from the DPC to energy deficit states, Chakravarti said he was unaware of the developments and would not be able to comment on it.

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