New Delhi, May 05: State-run gas firm Gail (India)
Ltd today said it was talking to Indian lenders of the now
shut Dabhol Power Company (DPC) to takeover the 2,184 mw power plant
and the adjoining LNG import facility in Maharashtra.
"We have formed a consortium with Tata Power and British
Petroleum to put a joint bid for acquiring DPC assets," Gail
chairman and managing director Proshanto Banerjee told a news
conference here.
The Gail-Tata-BP consoritum is talking to the Indian
lenders to the 3 billion dollar project. "Indications are that
lenders are likely to go for asset sale rather than equity
sale," he said.
Bankrupt US energy firm Enron Corp had 65 per cent stake
in DPC which shut operations after a bitter payment row with
the sole buyer of its electricity, Mahrasthra State
Electricity Board. GE and Betchel had 10 per cent a piece.
Maharashtra State Electricity Board has the remaining 15 per
cent.
Banerjee said he was not aware when the lenders would
call for bids for asset sale and as to by when the beleaguered
plant would start operation.
If the consortium were the win the bid, BP would supply
LNG to the project, Tata Power run the plant and Gail would be
responsible for sale of re-gassified LNG (excess of what the
plant will need).
Bureau Report
