DPC slaps notice on Centre

MUMBAI, SEPT. 6. The U.S. energy major, Enron's Dabhol Power Company (DPC), has slapped an arbitration notice on the Centre and said it was not ready to offer any discount over its equity or on the $ one billion ``at cost'' selling price of its 2,184 Mw power project.

``The two-day conciliation process with the Centre had failed to resolve their Rs. 102 crores December bill payment dispute. Hence, we sent the arbitration notice on September 4 to the Government of India'', the DPC spokesperson, Mr. Jimmy Mogal, said here today.

Another reason was the widespread speculation over the multinational, its partners General Electric and Bechtel taking a hit in their equity for selling the project at a lesser amount than the above mentioned $ one billion.

- PTI

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Section  : National
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