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August 2, 2001
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Money > Business Headlines > Report August 2, 2001 |
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Enron open to discussion on DabholAshok Easwaran in Chicago Enron was still open to discussion on the Dabhol project, and was hopeful that the intervention of New Delhi would resolve matters, a spokesperson of the Houston-based company said. Enron chairman Kenneth Lay, had in a recent interview said that the company wanted to pull out of the Dabhol project and expected the Indian government to buy out its stake in the $2.9-billion project. Enron spokesperson John Ambler said that the Maharashtra State Electricity Board 'has rescinded, even repudiated' its power purchase agreement with Enron. "All parties had willingly agreed to the contract. It is important that the parties live up to the terms of the contract," he said. Ambler said that Enron's tariff was high 'if the plant was not properly utilised to its designated capacity'. "The higher tariff was comparable to newer power plants including government power plants," , he said. Price has been a key issue between the Maharashtra State Electricity Board and Enron. Besides the cancellation of the contract, Ambler said that the failure of reforms in the power sector 'makes it very difficult for outside generators to operate in Maharashtra'. "We are open to discussion," Ambler said, "but is should not be a perpetual series of re-negotiations." YOU MAY ALSO WANT TO READ:
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