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January 23, 2001
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Money > Business Headlines > Report January 23, 2001 |
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US investors concerned over Enron debateSwati Kulkarni in Bombay The outgoing United States Ambassador Richard Celeste informed the Maharashtra state government on Tuesday that many multinational companies have expressed concern over the debate over the Enron project. "Celeste told us this morning that General Electric, Bechtel Corporation and many other US companies are concerned about the on-going trouble between the Dabhol Power Corporation and the Maharashtra state government," said Jayant Patil, Maharashtra's finance minister. Celeste earlier met Chief Minister of Maharashtra Vilasrao Deshmukh, Finance Minister Jayant Patil, Energy Minister Dr Padamsinh Patil, Minister of state for energy Rajendra Darda and other state government officials. David Good, commercial ambassador at the US consulate, accompanied Celeste. "Celeste suggested that the government should take speedy steps to resolve the issue. All investors are eagerly observing how the state government handles the matter," said Patil. "Celeste said that there is some anxiety in the US over the stand taken by the Maharashtra government vis-à-vis Enron. The Central and the state government should jointly work together to find a way out of this crisis," added Patil. Celeste said that the US administration hopes that the ongoing dispute is settled amicably and soon. Patil said that the state government informed Celeste about the high Enron tariff rate and dollar linkages to fuel and capital cost. "We told him that the cost is quite high and is putting unnecessary burden on the consumers. This has caused resentment among the people," said Patil. The state government also informed Celeste that a committee is being formed to study the entire case and give suggestions to resolve the crisis. "We are making all efforts to keep our investor-friendly image intact. Our only desire is to have the project cost and tariff rates reduced. Finding a viable solution to the matter is of imminent importance to us, rather than going into what the previous governments did or did not do," said Patil. |
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