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Tuesday, September 21, 1999

DPC board to meet in US to review progress 

Vandana Saxena  
Mumbai, Sept 20: The Dabhol Power Company (DPC) will hold its board meeting at Houston, USA, next month to review the power company's progress. The DPC is a joint venture between the three US power companies, Enron, Bechtel and GE, and the Maharashtra State Electricity Board (MSEB).

Representatives of MSEB on the DPC board will leave for the US in the last week of this month. While Enron has a 50-per cent stake, MSEB has 30 per cent and the balance 20 per cent is shared equally by Bechtel and GE. MSEB chairman Asoke Basak and technical director PS Paunikar will take part in the meeting.

The board may also discuss the first four months' performance of the Dabhol power plant in Maharashtra. The 740-mw first phase of the project was commissioned on May 13.

The plant which faced problems during the trial period was partially closed last month due to some technical snags. One unit, which was shut down for nearly three weeks, is presently operational and the plant is generating at full capacity.

It is notknown if the cost of power billed to MSEB in the last four months will also be part of the discussion. DPC had earlier, in May, sent a Rs 230-crore bill to MSEB which, however, did not agree to pay the entire amount. The board which made a part payment to the DPC had proposed a debate on the balance amount of around Rs 50 crore. This first bill included both pre- and post-commissioning charges.

The project was earlier scheduled to be commissioned by December 1 1998. However, as per the power purchase agreement (PPA) this was scheduled for July.

The board will also discuss the implementation of the project's 1,444-mw second phase. According to the company, financial closure was achieved last May.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.


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