GE, Bechtel agree to extend unconditional support to DPC

In a significant development, GE and Bechtel, minority share holders in Enron-promoted Dabhol Power Company, have agreed to extend unconditi...

In a significant development, GE and Bechtel, minority share holders in Enron-promoted Dabhol Power Company, have agreed to extend unconditional support for restarting generation of power from the project, lying idle for over 20 months.

This was stated by Power Minister Anant Geete after a two-hour meeting with the top executives of GE and Bechtel here.

Enron probe panel ruling expected today
Mumbai: THE Kurdukar Commission, probing the Dabhol Power Project fiasco, would on Friday give its verdict on the controversial issue of its jurisdiction to hear matters pertaining to central approvals for the multi-crore project of Dabhol Power Company (DPC).
Justice S.P. Kurdukar, retired Supreme Court judge, conducting the probe, had reserved his order until February 7 after arguments by the Union and Maharashtra governments and various other respondents concluded on January 14. PTI

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Asked whether the promoters had insisted on their demands for payment of dues before undertaking onsite inspection of the plant, Geete said “the promoters expressed their concern over recovering their share capital.

We have told them that just as they are concerned about their investments we are equally worried about foreign investment flows in India.”

GE India chief Scott Bayman refused to comment.

Power secretary R.V. Shahi said that NTPC would hold discussions with the promoters on Friday to work out modalities for restarting the project.

Describing the meeting as ‘good’, Geete said that talks have been successful in removing the road-blocks in restarting the project, adding that it was the right time to resume operations.

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He said that joint inspection carried out earlier had revealed that the damage to the plant was much less than anticipated thereby implying that less money would be required for resuming generation.