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April 24, 2001 		Feedback  
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'Termination' on Enron's Dabhol meeting agenda

A crucial board meeting to be held in London by energy giant Enron Corp's Indian unit will consider termination of a $2.9 billion project in Maharashtra, a senior official said on Tuesday.

"Termination is one of the items on the agenda," Maharashtra's chief secretary V Ranganathan said referring to Wednesday's meeting.

"But our directors (on the board) will be there...they will explain to them our position," the state's most senior bureaucrat said on the sidelines of a news conference.

Dabhol Power Company -- 65 per cent owned by Enron -- is involved in a payments row with Maharashtra and is facing a cash crunch as the Maharashtra State Electricity Board has defaulted on payments worth Rs 2.26 billion ($48.31 million).

The project's first phase of 740 MW is in operation while the second phase of 1,444 MW is expected to be commissioned later this year.

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