The Empowered Group of Ministers looking into the Dabhol power project fiasco is likely to meet on Friday to discuss ways to restart the plant that has been lying idle for over three years.
The Empowered Group of Ministers, which is looking into the debacle of the Dabhol power project
US-based General Electric, which along with Bechtel controls 85 per cent stake in the beleaguered 2,184-MW Dabhol Power Company, is open to sell its equity but wants its claims to be settled first.
The power plant of DPC is likely to remain idle for some more time as the Supreme Court's initiative to restart it met a roadblock with key shareholders of DPC -- subsidiaries of GE and Bechtel -- refusing to submit to the court's jurisdiction.
In an attempt to find a lasting solution for the troubled $2.9 billion Dabhol Power Project, GE said on Monday it was joining hands with NTPC and BHEL to restart it.
The ministry of finance has estimated that about Rs 1,800 crore (Rs 18 billion) would be needed to restart the Dabhol Power plant, lying idle for the past three years.
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