DPC delay not to hit GE plan

Terming the Dabhol Power project a "bump in the road", GE, a major stakeholder in the project, on Monday said delayed resolution has not affected the company's investment plans in India and suggested that NTPC should be given responsibility to operate the plant.

"I suggest that National Thermal Power Corporation and Gas Authority of India should take charge of the plant as the plant in running condition will fetch much better value," Scott Bayman, president and chief executive officer, (India) said.

Asked whether the delayed resolution of Dabhol frustrated GE's plans for India, Bayman said "It frustrates me to death... but it doesn't affect our plans. Dabhol is a big bump on the road but does not have an impact on our plans as this is the place (India) we want to be."

"Our annual revenues from India are $1billion and I feel that in India we can grow faster than the Indian economy," Bayman said while claiming that the company registered a growth rate of 15 to 18 per cent annually.

On GE's strategy to make the Dabhol plant running, he said "We shall cooperate with NTPC or anybody (whoever is give charge to run and operate the plant)."

Earlier, GE along with Bechtel had expressed concern over the 'lackadaisical' attitude of the current UPA as well as the previous NDA government to resolve the matter.

"The general feeling is that the previous government was never serious about settling and this government has not sent any positive indication to us that it is," Bayman had said in a communication to planning commission deputy chairman Montek Singh Ahluwalia.