U.S. firm to win $1.4b deal<\/p>\n
BANGALORE, India (AFP): U.S. power giant Cogentrix Energy Inc.
\nwas reassured yesterday of winning a US$1.4 billion contract to
\nbuild a power plant in the southern Indian state of Karnataka.<\/p>\n
The newly-elected Karnataka government told visiting U.S.
\nCommerce Secretary Ron Brown in Bangalore, the state capital and
\nIndia's leading hi-tech center, that a final agreement would be
\nsigned with Cogentrix in a month's time.<\/p>\n
There was uncertainty about the project following the
\nassumption of power in Karnataka by the centrist opposition
\nJanata Dal, which unseated the ruling Congress (I) party in
\nDecember elections.<\/p>\n
Chief Minister Deve Gowda said the commitment given to
\nCogentrix by his government's predecessor would be honored.<\/p>\n
\"Any investment is welcome in sectors like power generation,
\ntelecommunications, expressways and food processing,\" Gowda said.
\n\"We will honor the commitment with Cogentrix.\"<\/p>\n
Brown and Gowda told a joint news conference that the plant
\nwould be commissioned by 1998.<\/p>",
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"sponsor": "Okusi Associates",
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