The US multinational, Enron Power Corporation, would finalise financing arrangements with various banks and financial institutions for its 1,444mw Dabhol phase II power project by December.
We are yet to finalise who would be our equipment supplier for the project. We hope to finalise the bid by early November so as to put the project into financing by December, the managing director of Enron operations in India, Sanjay Bhatnagar said.
Enron has received favourable response for the bids for equipment supply from a number of multinational companies like Siemens, ABB, General
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Electric and Mitusubishi, Bhatnagar said.
He said financing for the project, which would be operated on a turn-key basis, would account for a loan of about $1 billion.
The second phase, to be completed by 2000, would be totally based on liquefied natural gas (LNG) for which the necessary arrangements are being made, he added.
Bhatnagar had earlier said the second phase of the Dabhol power project would require about two million tonnes of LNG and the company was planning to import about five million tonnes.
Enron has a 35 per cent stake in the Qatar Gas and Petroleum Corporation (QGPC) from where the LNG would be imported to the project site, he said, adding the remaining three million tonnes of LNG would be sold to private power producers in India.
The company has already talked to a private power producer to sell one million tonnes of liquefied natural gas (LNG) in this regard, he said.
The LNG imported from Qatar to the project site will be through the Gujarat-Hajipur pipeline and later it would be re-gasified at the project site, Bhatnagar said.
Industries in Gujarat and Maharashtra would also benefit from the pipeline as the LNG imported will cater to their needs too, he said.
We need a number of projects like Dabhol that have the capability to bring huge investments including fuel and infrastructure with them, Bhatnagar said.
Enron's intention is to be a full service energy provider company in India, he added.We are yet to finalise who would be our equipment supplier for the project. We hope to finalise the bid by early November so as to put the project into
- Sanjay Bhatnagar Managing director, Dabhol Power Corporation