The plant has been shut since 2013 for want of domestic gas supplies.
Ratnagiri Gas & Power Pvt Ltd, in charge of Dabhol assets since 2005, has admitted it is passing through a difficult phase in the absence of gas allocation and low recovery of dues from the Maharashtra State Electricity Distribution Company.
Goyal's statement comes in the wake of RGPPL board giving its approval last month for the conversion of debt into equity equivalent to interest dues of Rs 405 crore (Rs 4.05 billion).
The government's move is crucial as the state distribution utility MahaVitaran was purchasing about 95 per cent of power since the Dabhol project began generation in April 2006
The company is pursuing the early scheduling of gas with the Centre to restart generation.
The 1,967 MW plant has not been operating since August because of stoppage of natural gas supplies from domestic fields.
Gas prices have fallen to $10 per million British thermal unit. But the fate of the power project, run by Ratnagiri Gas and Power Pvt Ltd, will hang in balance till the committee takes a decision on gas pooling, reduction in certain taxes and providing per unit subsidy.
The trouble is largest FDI projects in India have had a tragic history.
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