Enron seeks new talks on India project, but is also proceeding with legal action

Article Abstract:

Enron Corp. wants to hold talks with the officials of Maharashtra, India, over the resumption of work on its $2.8-billion power plant project in the state. The state government, led by the nationalist Bharatiya Janata Party, cancelled the construction of the facility on Aug. 3, 1995, shortly after coming to power. In seeking a new round of negotiations, Enron promised to modify parts of the contract disliked by state officials, including those pertaining to pricing agreements. Meanwhile, the company has also initiated legal proceedings, in case the government refuses to hold fresh talks.

Regulation and Administration of Communications, Electric, Gas, and Other Utilities, Energy Supply Programs-Electric Power, Laws, regulations and rules, Political activity, Buildings and facilities, Energy industries, Energy industry, Electric power supply, Electric power-plants

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Indian state gives Enron approval to resume project

Article Abstract:

The state government of Maharashtra, India, has reconsidered an Enron Corp.-led consortium's plan to construct a 2,450 megawatt power plant in the region. The planned power plant project had been delayed for five months because of disagreements regarding power rates and equity sharing. Under the new agreement, Enron will charge the state 1.6% less in power rates than the original agreement and will allow The Maharashtra State Electricity Board to purchase 30% of the project.

Electric Power Generating, Electric Power Generation, Contracts, Industrial equipment and supplies industry, Industrial equipment industry, Power plants

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Enron project revived under new pact

Article Abstract:

Enron Corp. will continue the construction of power plant in Maharashtra, India after the project was halted in Aug. 1995. Enron negotiated with the state on terms for electricity tariff, capital costs, payments and environmental protection before it was allowed to resume construction. The delay reflects the political hurdles faced by foreign investors in India.

Electric Utilities, Electric Power Generation, Transmission and Distribution, Foreign operations, Foreign investments, Reports, Investments, India

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