-Caveat Lector-

Subj:    BUZZFLASH SMOKING GUN: The Enron Dabhol Power Project
Date:   1/23/02 6:57:58 PM Central Standard Time
From:   [EMAIL PROTECTED] (BuzzFlash.com)


BUZZFLASH SMOKING GUN: In June of 2001, President of India's Congress Said
the Enron Dabhol Power Project Came up in Discussions with Bush Administration

http://www.hindustantimes.com/nonfram/290601/dtLFOR01.asp


US visit very successful: Sonia
PTI
Washington, June 29, 2001

Congress President Sonia Gandhi on Friday described her US visit as "very
successful", saying a wide range of issues such as the Indo-US relations and
Dabhol Power Project were discussed.

During her meetings with US Vice President Dick Cheney, National Security
Adviser Condoleezza Rice and Deputy Secretary of State Richard Armitage
discussions were aimed at strengthening bilateral relations, she said.

Ms Gandhi said the issue of distressed Dabhol Power Project did come up
during the talks, but did not elaborate.

Former Finance Minister Manmohan Singh, who accompanied her on the visit,
said, "We explained the special circumstances which have led to some problems
in Dabhol Project."

"First of all, the demand projections on which this project was conceived did
not materialize," Singh said adding "there has been an exorbitant increase in
the price of power because of the depreciation of the rupee and also because
the feed stock prices have gone up tremendously".

He pointed out that a committee has been appointed by the Maharashtra
Government to resolve these questions through discussions. "It will be our
effort to find an amicable and mutually satisfactory solution based on purely
economic and business considerations," he said.

FROM THE HINDUSTAN TIMES

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