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July 23, 2001
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Money > Business Headlines > Report July 23, 2001 |
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PMO wants Dabhol solution before Vajpayee's US visitSurajeet Das Gupta & Santosh Tiwary Prime Minister Atal Bihari Vajpayee is likely to announce a mechanism to resolve the payment dispute between the Enron-promoted Dabhol Power Company and the Maharashtra State Electricity Board when he visits the United States for the UN General Assembly meeting in September. The Prime Minister's Office has asked the power and finance ministries to settle the Dabhol-MSEB dispute before Vajpayee visits the US. The plan will facilitate completion of the 1,444 mw second phase of the project, which has been put on hold. Sources said Enron is currently talking to top government functionaries and financial institutions to concretise the plan. They added that the PMO is taking a keen interest in devising a proposal, which would be acceptable to both the parties. The government representative in the negotiating committee set up by the Maharashtra government to find an amicable solution has also been asked to expedite deliberations. Sources said the Centre would seek the consent of the Maharashtra government before finalising the mechanism for settlement of the issue. They added that Enron had shown its willingness to continue with its power project on certain conditions and the Centre's dispute resolution plan would certainly address those, besides ensuring a lower tariff. Powered by YOU MAY ALSO WANT TO READ:
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