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CII to act as facilitator in DPC row

Close on the heels of Enron announcing its decision to exit from India, Confederation of Indian Industry has assumed the role of a facilitator between Enron, financial institutions and Maharashtra government in an effort to resolve the problem amicably.

"We want a healthy Indo-US relations and Enron is a problem in this," Tarun Das, director general of CII, said in New Delhi.

"We have the experience of bringing Maruti and Suzuki Motors to one table and resolving the crisis in 1997. We are confident about Enron also," he added.

Das said Enron would complete the Dabhol's phase-II power project of 1,744 MW adding, "Enron has ensured that phase-II will be completed despite their decision to exit from India."

Enron chief Kenneth Lay has sought CII's support, Das said.

"We are playing a role of interlocutor so that talks between Enron and other related parties do not break down."

Financial institutions have invested $1.2 billion in Enron's Dabhol Power Corporation in Maharashtra.

Das said that resolution was expected by the end of September.

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