Dpc Lenders Against Picking Up Foreign Equity

Indian lenders led by Industrial Development Bank of India (IDBI) are against picking up the foreign equity in Dabhol Power Company (DPC). While Enron Corp, US, holds 65 per cent stake in the $1 billion equity of DPC, Bechtel and GE hold 10 per cent each.

Sources told Business Standard that the Indian lenders have asked prospective buyers to directly negotiate with Enron for any possible deal. The lenders will play the role of facilitators in the process and step in only to iron out any differences between the two parties. The Hinduja group, Tata Power, AES and BSES had evinced interest in taking over the project.