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May 4, 2001
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Money > Business Headlines > Report May 4, 2001 |
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Dabhol's PPA meeting likely on May 11BS Regional Bureau The Dabhol Power Company has conveyed to the state government its willingness to sit across the table with the Madhav Godbole-headed committee to renegotiate the power purchase agreement. Confirming this, Godbole said: "The meeting that was scheduled for May 5 has been postponed to May 11 when DPC would meet for renegotiations." According to sources in Mantralaya, the postponement of the meeting was done at the request of DPC, which wanted to ensure that their lenders and shareholders from abroad are present for the renegotiation process. According to a senior government official, the power utility had resigned itself to the fact that renegotiating the DPC project was the only way out of the present imbroglio, considering that the Indian lenders, prominently the Industrial Development Bank of India, had opposed the termination option during the London meeting held on April 25, 2001.
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