Tata eying Enron project<\/p>\n
NEW DELHI (AFP): Indian corporate giant, the Tata Group, is
\nwilling to buy a stake in U.S. energy firm Enron Corp's three
\nbillion dollar Dabhol power project in western India, the
\nEconomic Times said Saturday.<\/p>\n
\"We are watching the Dabhol developments very closely and will
\nconceivably think of buying it, if it makes sense for us,\" Tata
\nGroup chairman Ratan Tata said at a shareholders meeting in
\nBombay, India's financial capital.<\/p>\n
The Enron-backed Dabhol Power Company's 2,184 megawatt power
\nplant stopped generating electricity in May when its sole client,
\nthe Maharashtra State Electricity Board (MSEB), failed to clear
\nits long-overdue power bills.<\/p>\n
After the payment defaults, MSEB refused to buy any more power
\nin a dispute over tariffs. Enron later announced it was calling
\noff the contract.<\/p>\n
Replying to questions posed by shareholders, Tata said a final
\ndecision would be taken after considering all factors.<\/p>\n
\"We are in discussions with the government and they will
\ncontinue. It is an LNG-based plant and the power will be
\nexpensive. A final decision will made only after taking this
\nfactor into account,\" he said.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/tata-eying-enron-project-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}