Indian lenders unfazed

Indian lenders to Dabhol Power Company today said Bechtel's action against the Maharashtra government would not have any impact on ongoing efforts to restart the project.

A bank executive said lenders had nothing to do with Bechtel's action.

"The issue is between the two sponsors of Dabhol Power Company," the executive said.

Attempts to buy out the exposure of all the 19 lenders to Dabhol Power Company for $230 million hit a roadblock with ABN Amro and ANZ refusing to sign the deal. They have demanded an additional $25 million.