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April 21, 2001
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Money > PTI > Report April 21, 2001 |
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DPC board meet in London on Apr 25 to decide project fateMarred by controversies since its inception, the US-based energy major Enron-promoted Dabhol Power Company board will meet on April 25 in London to decide the fate of its 2,184 mw project in Dabhol, including winding up of its operations. "The top most item on the agenda is to empower DPC managing director Neil McGregor to wind up operations in the country," Maharashtra government sources said n Bombay on Saturday. When contacted DPC spokesperson declined to comment on the agenda of the London meeting and added, "I will not like to comment on speculations." Sources said a team comprising three top officials of Maharashtra State Electricity Board including chairman Vinay Bansal would attend the high-profile board meet. Bansal said that the MSEB has decided to give a 'fitting reply' and present its case concerning the Rs 4.01-billion penalty that the loss-making board slapped on DPC on February 28, for not generating required power within the stipulted time as per the power purchase agreement. This London meet comes two days after the international and domestic financial institutions sit together (April 23) to discuss DPC's future course of action in the wake of non-payment of dues to the tune of Rs 2.23 billion by MSEB and also to take into account the aforesaid penalty. YOU MAY ALSO WANT TO SEE:
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