Rediff Logo
Money
Line
Channels: Astrology | Broadband | Contests | E-cards | Money | Movies | Romance | Search | Wedding | Women
Partner Channels: Bill Pay | Health | IT Education | Jobs | Technology | Travel
Line
Home > Money > Business Headlines > Report
June 21, 2001
Feedback  
  Money Matters

 -  Business Special
 -  Business Headlines
 -  Corporate Headlines
 -  Columns
 -  IPO Center
 -  Message Boards
 -  Mutual Funds
 -  Personal Finance
 -  Stocks
 -  Tutorials
 -  Search rediff

    
      



 
 Search the Internet
         Tips
 Sites: Finance, Investment
E-Mail this report to a friend
Print this page

No impact of DPC tangle on FIs, says Prabhu

BS Economy Bureau

Power minister Suresh Prabhu said on Wednesday that foreign investors are not shying away from the power sector due to the Dabhol problem. The government is taking steps, which included permission for direct sale to the third party and attract IPPs in the power sector. The new Electricity Bill would have enabling provisions in this regard, he said.

Remarking that foreign investors are showing renewed interest in the power sector, the minister said that it is evident from their response to the five international conferences the ministry proposes to hold in the coming months.

All the events have a partner country, and various countries including France, Austria, Canada, the UK, Belgium and the US have confirmed their participation.

Sweden, France, Canada, Norway, Spain and Austria have shown specific interest in the hydro sector, he said.

On the proposal of the Dabhol Power Company's takeover by other companies, he said, "it is for Enron and the interested parties to decide".

The power ministry is reviewing the preparedness of the states to meet the additional generation target of 100,000 mw by 2012. In the second stage, if it was found that they were lacking in the preparedness, the Centre would ask them to allow direct sale from IPPs to attain the target, he added.

Prabhu said, it is in the states' interest to allow direct sale of power by private companies and suggested that areas could be demarcated by the states for the IPPs to sell power.

Powered by

YOU MAY ALSO WANT TO READ:
The Enron Saga
The Rediff-Business Standard Special
The Budget 2001-2002 Special
Money
Business News

Tell us what you think of this report