The government on Friday decided to stand guarantee to domestic financial institutions to settle foreign debts of Dabhol Power Project as part of its efforts to settle the issue and restart the power company.
Assuring that next Diwali would witness less load shedding, Maharashtra Chief Minister Vilasrao Deshmukh on Monday said the newly-formed Ratnagiri Gas and Power Private Ltd would generate around 2500 MW power to meet the present shortfall.
The Supreme Court on Wednesday issued notice to the Centre on a petition challenging the legality of the power purchase agreement between Maharashtra State Electricity Board and the Enron-promoted Dabhol Power Corporation.
The Industrial Development Bank of India-led consortium will meet the foreign lenders in London on Wednesday for taking over their outstanding dues in the troubled Dabhol Power project.
To start with, TPG has signed an MoU with Chhattisgarh government for a 1,600 Mw coal-fired plant in the state at an investment of about Rs 6,000 crore.
State-run gas firm GAIL (India) Ltd on Wednesday said it was talking to the Indian lenders of the Dabhol Power Company to takeover the 2,184 MW power plant and the adjoining LNG import facility in Maharashtra.
Here are the highlights of the economic agenda unveiled by President A P J Abdul Kalam at the joint sitting of Parliament on Thursday.
Qatar and Australia are likely to supply fuel for restarting the $3 billion Dabhol Power Project in Maharasthra from the fourth quarter of 2006.
The trouble-torn 2,184 MW Dabhol power project is all set to be restarted with General Electric, one of the major equity holders, slated to reach an agreement with Indian financial institutions by this month end.
Terming the Dabhol Power project a "bump in the road", GE, a major stakeholder in the project, on Monday said delayed resolution has not affected the company's investment plans in India and suggested that NTPC should be given responsibility to operat
The empowered group of ministers (GoM) looking into ways to resolve crisis in the $3 Dabhol power project on Friday discussed various issues including the future course of action on litigation and restructuring but could not arrive at a decision.
India has sought 60 more days from an arbitration tribunal at London to respond to a claim of about $6 billion as compensation from GE and Bechtel, the foreign promoters of now-defunct Dabhol Power project in Maharashtra.
The Union Cabinet is understood to have decided to constitute an empowered Group of Ministers to resolve the crisis plaguing the multi-billion Dabhol power project, promoted by the erstwhile Enron Corporation.
The panel has decided to commence proceedings in the DPC fiasco probe from March 31.
Gas Authority of India on Monday said it is planning to invest up to $500 million over the next three to five years for gas exploration and liquefaction facilities in Australia.
The Supreme Court on Monday sought the response of key shareholders in Dabhol Power Corporation -- subsidiaries of GE and Bechtel -- on restarting the litigation-embroiled plant
In an effort to restart Dabhol power plant, Indian lenders led by IDBI will submit a final restructuring proposal to US-based Overseas Private Investment Corporation, one of the foreign lenders, before October 13.
Bechtel Enterprises and GE, the two US companies that hold stakes in Dabhol Power Company, have filed an arbitration action against the Government of India, seeking about $600 million each as against their investment of $120 million each in DPC.
The Supreme Court on Monday admitted an appeal filed by Enron promoted Dabhol Power Corporation challenging a Bombay high court order
The Empowered Group of Ministers, which is looking into the debacle of the Dabhol power project
Indo-US economic relations have vast potential but pending issues like the one about the failed Dabhol power project need to be resolved, US Undersecretary of State Alan P Larson told visiting Indian businessmen in Washington.
The Delhi high court on Wednesday in an interim order restrained Dabhol Power Company from going ahead with the arbitration proceedings against the Government of India in London.
The Supreme Court has asked the various parties in DPC to come out with the modalities about fixing interim tariff for sale of electricity by DPC to MSEB.
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.
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