Financial Daily
from THE HINDU group of publications
Monday, July 30, 2001
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Financial Daily from THE HINDU group of publications Monday, July 30, 2001 |
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Sale of stake best option, says Enron
Our Bureau
MUMBAI, July 29
ENRON India on Saturday said selling its interests in Dabhol Power Company to the Union Government or lenders to the project ``is the best approach'' to resolve the dispute between DPC and the State Electricity Board.
The company had issued a release in response to its Chairman, Dr Kenneth Lay's statement that the company wants out of the project. The company said that any sale would need to be on terms providing complete recovery of capital costs and related expendit
ures. A buyout option could help resolve the dispute, it said.
According to the release, DPC was not offered any realistic proposal and no progress was made in securing creditworthy buyers to purchase the power plant.
The company reiterated that it would pursue international arbitration to resolve the problems between Dabhol Power Company and to protect the rights of DPC's sponsors, lenders, fuel suppliers and LNG shipowners.
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Related links: Messier and messier FIs, banks favour AES taking over DPC Dabhol Power Project: What next Comment on this article to BLFeedback@thehindu.co.in Send this article to Friends by E-Mail
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