Search the Internet          Tips  Sites: Finance, Investment

Geete to meet DPC stakeholders on Tuesday

Union Power Minister Anant Geete will meet stakeholders of Dabhol Power Company in New Delhi on Tuesday to discuss steps for resumption of power generation from Phase-I of the project.

"I have called a meeting of all the stakeholders in DPC in the capital tomorrow (on Tuesday)," Geete said at the Maharashtra Infrastructure Summit 2002 in Mumbai.

Last week, the Maharashtra government finally approved a proposal to buy power from DPC at Rs 2.80 per unit. A team representing the stakeholders, including the Industrial Development Bank of India, had also undertaken a three day visit to the plant from October 28.

Engineering giants GE and Bechtel, who hold 10 per cent each in DPC, have sought 12 to 15 weeks time for a 'thorough' study of the idle 2,184 mw plant and a separate exclusive two month site visit for its experts to assess the 'actual state and good working knowledge of the plant's current condition,' albeit at a professional fee.

Referring to the interest burden on Maharashtra State Electricity Board due to its old debts, Geete said the power ministry was in talks with the finance ministry on the issue as some charges were as high as 18-21 per cent.

He said the ministry was also in discussion with the Petroleum Minister Ram Naik to secure additional gas allocation for the state (in Uran).

On distribution of power, Maharashtra additional chief secretary Asoke Basak said Navi Mumbai and Pune circles would be opened for privatisation.

Move to buy Dabhol power a political ploy: Rane

Leader of Opposition in the Maharashtra Assembly Narayan Rane on Monday dubbed the Democratic Front government's decision to buy electricity from Dabhol Power Co as a political ploy aimed at covering up its failures during the last three years.

Talking to newspersons, Rane asked why the government of Chief Minister Vilasrao Deshmukh had not bought power from Enron promoted DPC earlier though the state had been reeling under severe energy crisis for the last three years.

''It is a political strategy of both the major ruling partners, Congress and the Nationalist Congress Party to escape the wrath of the masses,'' the Shiv Sena leader said.

The former chief minister said the DF was yet to pay Rs 313 crore (Rs 3.13 billion) to cotton growers for last year's procurements.

He charged the DF government with taking several anti-farmer decisions after it came to power in 1999.

Additional inputs: UNI

ALSO READ:
The Enron Saga
More Money Headlines