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Defence minister Pranab Mukherjee, who heads the group of ministers on Dabhol, has said that he expects to resolve the tangle during the next meeting of the committee to be held before the end of the Winter Session of Parliament on December 23, reports CNBC-TV18.
This will be the fifth meeting that seeks to resolve the issues of buying out the debt of Dabhol's foreign lenders, and restructuring the defunct power plant. While foreign lenders have quoted a figure of $ 300 million, the consortium of Indian lenders led by IDBI Bank have agreed to pay $ 220 million. GE, and Bechtel, who own 85% equity in the Dabhol Power Plant, are carrying out a parallel arbitration in London over breach of power purchase agreement. They want $ 120 million each in compensation.
--moneycontrol.com
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- MajorGainZ.com
