"With every meeting of the group of ministers formed for solving the issue we are advancing towards the solution," Union Power Minister P M Sayeed said but did not give any timeframe for the restarting the project.

In another development, the government has selected three members for the proposed Appellate Tribunal for Electricity and the selection of the chairman would be made in two weeks.

The solution for Dabhol would benefit Maharashtra which is reeling under power shortage of more than 2,500 MW, he said.

The first phase of about 740 MW would be first restarted followed by the second phase of 1,444 MW, whose 90 per cent work has been completed, the minister said.

Gas Authority of India Ltd and National Thermal Power [Get Quote] Corporation are assisting the lenders, at this stage, for starting of the project and the date of year-end given by them is on account of the technical aspects, he said.

NTPC and GAIL would take care the plant operations and the LNG terminal respectively, he said adding, there was no talk about taking the ownership by the two companies at this stage.

Sayeed said that the Dabhol plant was in good shape and the preservation of the assets was under a contract.