Industry & Economy
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Power
`Dabhol phase I to be ready by next July'
Our Bureau
Mumbai
,
July 13
THE first phase of Dabhol Power Project will be commissioned by July 2006 and the second by September 2006, the Maharashtra Energy Minister, Mr Dilip Walse Patil, told the Vidhan Sabha on Wednesday.
He was briefing the House about the progress achieved in the resolutions of controversies in the project.
All the litigations, claims and awards of the tribunals had been settled between the Maharashtra Government and GE-Bechtel, he said.
Maharashtra Power Development Company Ltd had paid Rs 630 crore to GE and Rs 700 crore to Bechtel in lieu of all liabilities on behalf of the Indian interests, he said.
Mr Patil also said Rs 495 crore was paid towards the outstanding bills of the Maharashtra State Electricity Board to Dabhol Power Corporation and Rs 700 crore was paid to various banks for settlement of loans.
In a separate note issued to the media persons, Mr Patil said the help of GE and Bechtel would be taken for assessing the additional fund requirements to restart the project.
After getting the control of the project, the Government plans to create an LNG terminal with the help of the Special Purpose Vehicle specially created to restart the project.
The Government may exempt the sale of dabhol assets from stamp duty, the note said.
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