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April 12, 2001
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Money > Business Headlines > Report April 12, 2001 |
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Government should honour its obligations: DPCBS Corporate Bureau The Dabhol Power Company has said that the Maharashtra State Electrcity Board, the state government and the Union government should fully honour their contractual obligations like payment of overdue bills and central government guarantees. This comes close on the heels of the Madhav Godbole committee recommendations that both phases of the 2184 mw power project be renegotiated and the power purchase agreement reopened. The company has in a press statement refused to comment on the Godbole panel recommendations as it was yet to see them. On the question of renegotitating the PPA, the company has said: "We have always maintained that we are willing to work jointly with MSEB, the Maharashtra government and the Government of India to address outstanding issues relating to the energy sector in Maharshtra and the Dabhol Power project. The company response is to reports appearing widely in the press about the panels' recommendations. The Dabhol power project has been in the eye of a political storm since November 2000, when Maharashtra chief minister Vilasrao Deshmukh announced that the 740 mw first phase of the project was bleeding the state electricity board. He said that the 1444 mw second phase would be reviewed as it would add further to MSEB's financial burden. The Godbole panel, set up in February 2001, has submitted its interim report. A final report will be submitted by the end of May 2001. Powered by ALSO READ:
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