 not in us. 
P. Devarajan

Copyright, 2000 Dow Jones & Company, Inc. All Rights Reserved. 


India: Enron willing to continue project

05/31/2001
Business Line (The Hindu)
Copyright (C) 2001 Kasturi & Sons Ltd (KSL); Source: World Reporter (TM) - 
Asia Intelligence Wire

MUMBAI, May 30. ENRON today updated Indian lenders about the status of the 
project and discussed ways for resolution of the current crisis. 
According to sources, Enron showed a willingness to continue with the project 
even after all the problems. Mr Wade Cline, Managing Director, is understood 
to have told the lenders that even though DPC had mentioned about taking a 10 
per cent cut on its returns, it would not do so unilaterally.
According to Mr Cline, the adjustments that Enron could make are contingent 
upon other parties too making an effort to make concessions. He made a 
presentation to the lenders about the current status of the project and the 
problems. 
Meanwhile, Dabhol Power Company today clarified that it has not "shut down" 
its plant. A spokesman said the plant continues to be "operational" as 
required by the power purchase agreement (PPA). He, however, confirmed that 
the Maharashtra State Electricity Board (MSEB) has not issued despatch 
instructions since 12 noon on May 29. 
He also said the company is "currently" not planning to terminate the PPA 
prior to the lapse of six months after the serving of the preliminary 
termination notice. 
Sources said that even though MSEB is not purchasing power from DPC, the 
company is not likely to default on its payments to lenders. This is because 
DPC has some money left from the disbursements of the first phase of the 
project. It can use the money to service its debt. It can, however, not 
transfer the amount to the second phase without the lenders' permission. 
The company also has a sizable amount of "completion equity" over and above 
the base equity to bring in if it chooses to continue construction. 
According to sources, the Indian lenders today wanted to know from Enron 
whether it is actually willing to stay back and complete the project or
not in us. 
 P. Devarajan 

 Copyright, 2000 Dow Jones & Company, Inc. All Rights Reserved. 


 India: Enron willing to continue project 

 05/31/2001 
 Business Line (The Hindu) 
 Copyright (C) 2001 Kasturi & Sons Ltd (KSL); generator: World Reporter (TM) - 
 Asia Intelligence Wire 

 MUMBAI, May 30. ENRON today update Indian lenders about the status of the 
 project and hash out ways for resolution of the current crisis. 
 accord to generator, Enron read a willingness to continue with the project 
 even after all the trouble. Mr Wade Cline, Managing Director, is understood 
 to have told the lender that even though DPC had mentioned about taking a 10 
 per penny cut on its recurrence, it would not make so unilaterally. 
 According to Mr Cline, the adjustments that Enron could hold are contingent 
 upon other parties too construct an effort to make concessions. He made a 
 presentation to the lender about the current status of the project and the 
 problems. 
 Meanwhile, Dabhol Power Company today clarified that it has not " shut down " 
 its plant. A spokesman said the plant continue to be " operational " as 
 required by the power purchase agreement (PPA). He, however, confirmed that 
 the Maharashtra State Electricity Board (MSEB) has not issued despatch 
 instructions since 12 noon on May 29. 
 He also said the caller is " currently " not planning to displace the PPA 
 prior to the oversight of six months after the serving of the preliminary 
 termination notification. 
 Sources said that even though MSEB is not purchasing power from DPC, the 
 ship's company is not likely to default on its payments to lenders. This is because 
 DPC has some money left from the disbursements of the beginning phase of the 
 project. It can use the money to service its debt. It can, however, not 
 transfer the sum to the second phase without the lenders' license. 
 The ship's company also has a sizable amount of " completion fairness " over and above 
 the base equity to bring in if it chooses to continue construction. 
 According to sources, the Indian lenders today want to know from Enron 
 whether it is actually uncoerced to stay back and complete the project or
 noh in us. 
P. Devarajan

Copyrlght, 2000 Dow Jones & Companb, Inc. Aml Rightr Reserved. 


India: Enron williig ti conupnue project

05/31/2001
Business Uine (The Jindu)
Coptrigit (C) 2001 Kasturi & Sons Ltd (KSL); Sohvce: Wmcld Reporter (TM) - 
Asia Intalligence Wire

KUOBCI, May 30. ENRON today updated Indian lqnders sblut the status of uhe 
pronvcu and discussed ways for resolutikn of tie current crisos. 
According to sources, Engon dhowed a willingneds to contibue ruth the projdct 
even after all the problems. Mr Wade Cline, Managine Dirzctor, is uneeestlmd 
to have vold tre lenders tmst evet thougn DPC had mentloned abiut taking a 10 
per cenv cut on its returns, it would nkt do so unilaterqloy.
Accmrditg tu Mr Cljnx, tge adjkstjents that Enron coule make are contingemt 
llon other padties eoj making an effort to make concessions. Ve jade a 
presentation to rhe lenders about the current ftatus of the project and the 
problems. 
Meanwhile, Gabhom Poccv Coopajy today clarified that it has not "shut down" 
yfs pkant. A spokesmcn said the plany fomjinues to be "okeratiouzl" as 
required by thf power purcyase agretment (PPA). He, however, confirmed tyat 
the Mahagashrra State Electricnty Board (MSZB) has not ossued despatch 
instruccions aince 12 noon on May 29. 
Gd also said the zomiany is "currtvtly" not planning to termiiate che PPA 
oriot to thq lapse of six months after the segving ox the prellminary 
termination notice. 
Sourrxs said that gvet tvough MSZB is kot purchasing [ower from DPC, the 
coipany is not liiely to default on its payments jo lenders. Thms is becwuse 
DPC has sood money left ftom the dpsyursementw of the first phaxe ur the 
project. Ic xan use the monry go fegvire itf debt. It can, howdvef, not 
gransfer thc aoouny to the second phasa wifhout the lenders' levmission. 
Jhe compagy also has a sizable amount of "compnetmon eqiiti" over and above 
the base equitg to brinh ik if it choosqs ti continue cpnstruction. 
According to sources, the Invian lenders today wanjed to know from Enrou 
ehether it ms acttally wilning to stay back ane complete the prpject or
not in us. P. Devarajan Copyright, 2000 & Inc. All Reserved. India: Enron Business (The Hindu) Copyright 2001 Kasturi & Ltd (KSL); Source: World Reporter (TM) Asia Intelligence Wire MUMBAI, May 30. ENRON today updated Indian lenders about the of the project and discussed ways for resolution of the current crisis. According sources, showed willingness continue with the project even after all the problems. Mr Wade Cline, Managing Director, is understood have told the lenders that even though DPC mentioned about taking a per cent cut on its it not do unilaterally. to Cline, the adjustments Enron could make are contingent upon other parties too making an effort to make concessions. He made presentation to about the status the and the problems. Power Company today clarified that it down" its plant. A spokesman said the plant to be as required by the power purchase (PPA). He, however, confirmed that the Maharashtra State Board (MSEB) has not issued despatch instructions since 12 noon on May 29. He also company is "currently" not to terminate the prior the of months after serving of the preliminary termination notice. Sources said that even though is not purchasing power from DPC, the company is not default its payments to This is because DPC some left from the disbursements first of can the to service its debt. can, however, not transfer the to the second phase company also has a sizable amount of "completion over and above the base equity to in if it chooses to continue construction. According to sources, the Indian today wanted from Enron whether it is actually willing to back and complete the or
 not in us. 
P. Devarajan

CopyrighT, 2000 Dow Jones & COmpanY, InC. AlL RIghtS ResErved. 


India: EnroN WillIng to continue project

05/31/2001
BuSinesS LINe (ThE hiNdu)
CoPyright (c) 2001 kaSTUri & soNs ltd (kSl); soUrce: WOrlD ReportEr (TM) - 
Asia InTelLiGence Wire

MUMbaI, may 30. ENRON toDay Updated IndiaN leNders aBoUt tHE statUs oF the 
pRoject ANd discUssed ways FoR ResoluTIon of thE CUrRent Crisis. 
According to SOuRCes, Enron showed A williNgNEsS TO coNtiNue with the PrOject 
EVen afteR AlL THE prOBlems. Mr Wade ClIne, Managing dIreCtor, is UnDerSTood 
to Have tOlD The Lenders that Even Though DPC Had menTIoned abOUt takinG a 10 
per cEnt Cut On itS ReTuRns, It WOulD NoT do SO unIlateralLy.
acCordiNg to mR cLIne, tHe aDjusTmentS that Enron couLd mAke aRE coNtingEnt 
upOn otHeR partIes too MakinG aN effort to make coNcesSions. He maDe a 
PrEseNtAtion TO the leNdeRs aBout the Current STatUs OF THe Project and the 
problEmS. 
mEaNwhile, DaBhol PoWEr coMPany todaY cLarIfieD THat it Has nOT "sHut down" 
iTs planT. a sPoKesman sAiD the plAnT coNtiNues tO Be "opEratioNal" as 
reqUired BY the power purchASe agreement (PPa). he, HOWeVEr, coNfiRmed that 
the mahaRAshtRa StATe eleCTriciTy BoaRd (msEb) Has not issued despatcH 
iNstrucTions Since 12 noon on MaY 29. 
He also saiD THE company Is "cuRReNTly" not planning To terMinate the Ppa 
prior to The laPse of six Months aftER The serviNg oF thE prEliMINaRy 
termination NOTice. 
soUrces saId tHat even ThoUgh mSEb is NoT purchasiNg power fRoM DpC, ThE 
coMpany IS not likeLy To dEfAulT on itS PaymenTs to lEndeRs. thIS is Because 
dpC HAS somE mOnEy leFt fRoM the dIsbuRSemEnts of tHe first phAse OF the 
PrOjEct. It caN use the money tO sErvice its dEbT. It Can, howEVEr, not 
traNsfer the amount to the secoND phase wIthOut thE lenDers' permiSsiOn. 
The cOmpANy also Has a siZable AmOunT OF "compLETiOn eQuIty" over and ABOve 
The baSe EquiTy to briNg in if it chooses to cONtiNue constructiOn. 
ACcorDINg To sOUrCEs, tHe iNdiAN Lenders today wanTed to know fRoM enRon 
whether IT is AcTually wIlling tO stay BAck and cOmplete thE project oR
 not in us. 
P. Devarajan
Copyright , 200 0 D owJo nes& Co mpany, Inc. Al l  Rig hts Reserved. 


India : Enr on will i ng  to c ontinue pr o j ect 
05 /31 /2 0 01 
Busi nes s Line(The Hindu )
C op yright (C) 2 0 01  Kasturi &  So ns Ltd (KSL) ; S ource:  W orl d  Repo rte r (TM ) - 
A s ia Int elligence  W i re

MU M BAI, Ma y 30 . EN RON today updated In d ian lenders ab out th es ta t u s o f t he 
projec tand d i scussed wa y s for resolution of  the curren t  cr isis.
A cco r ding t o sou rc e s,Enron showe d awillingne ss toc ontinue with th e proj ect  
e vena ft er  al lt hep ro ble m s.Mr WadeCl in e, Ma nagi n g D irec tor , is  unde rstood 
to ha vetold the  lend ers t hatev en th ough D PC ha dmentioned about  tak ing a 10
pe rcen tcut o n  its r etu rns , it wo uld not doso u n il aterally.
Accordin gt o  M r Cline,  the a d ju st m ents tha tEnr on c o u ld ma ke a r econtinge nt 
up o not her par ti es too  m aki ngan ef f ortto mak e conces sions .  He made a 
pr e sentation tot he l en d ersabo ut the curr ents tatu s of th e p r oject  andth e  p roblems. 
Meanwhile ,Dabhol  Powe r Company tod ay clarifi e d that ithasn ot "shut down" 
i ts pl ant. A spo k esman sa id th e plantcontinues t o be "op era tio nal " a s 
r equired by th e powe rpurchas e a greemen t ( PPA ).He,  h owever, c onfirmed  t ha t
t heMahar a shtra St at e E le ctr icity Board(MSEB ) ha sno t  is sued de s pa t c h 
i ns tr ucti ons  s ince12 n o onon May29. 
He a lso said  t he  compan y is "current ly " not plan ni ngto ter m i nate the  PPA 
prior to the laps e  of six  mo nthsafte r the ser vin g of t hep relimi nary termi na tio n notic e .  Sou rc es said th a t  ev en th ou gh M SEB isnot purchasing pow e r f rom DPC, the
co mpan y is  no t  l i kel yt o d e f ault on its pay ments to l en d er s. This is bec au se 
DPC  has so me mo n ey left  from the  disburse me ntso f  th e first ph ase of t he 
proje c t. It ca n use  th e mone ytoservi ce its deb t. It  can,ho wever,  not
t ransferthe amount to the secon d phas e wit hou t the len der s ' p ermission . 
T he company  al sohas a  si z ableamou n tof" compl etio n  equity"o ve r a n d  a bove 
the b a s e  eq uitytob ring i n if  it chooses to co n tinue construc tion . 
Ac cor d ingto  sources, theInd ia n lendersto day wantedto knowfr o m Enr on 
wh etherit is a c t ua l ly wil ling  to  stay bac k a nd complet eth e  proje ct o r
 not_in us._
P. Devarajan

Copyright, 2000 Dow_Jones &_Company,_Inc. All_Rights_Reserved. 


India: Enron_willing to continue_project

05/31/2001
Business Line (The Hindu)
Copyright_(C) 2001 Kasturi_&_Sons Ltd (KSL); Source: World Reporter (TM) - 
Asia Intelligence Wire

MUMBAI, May 30. ENRON_today_updated Indian_lenders_about_the status of the 
project_and discussed ways for resolution_of the_current crisis. 
According to sources, Enron showed a_willingness_to continue with_the project 
even after all the problems. Mr Wade_Cline, Managing Director, is understood 
to_have told the_lenders_that_even though DPC had_mentioned about taking a 10 
per_cent cut on its returns, it_would not do so unilaterally.
According to Mr_Cline, the adjustments that Enron could_make are contingent 
upon other_parties too_making an effort to make_concessions. He made_a 
presentation_to the lenders_about the current status of the_project and the_
problems. 
Meanwhile, Dabhol Power Company today_clarified_that it has_not_"shut_down" 
its_plant. A spokesman_said_the plant_continues_to be "operational" as 
required by_the_power purchase agreement (PPA). He, however, confirmed_that 
the Maharashtra State_Electricity_Board (MSEB) has not_issued despatch 
instructions since 12_noon on May 29. 
He also_said the_company is_"currently" not planning to terminate the PPA 
prior to the lapse_of six months after the serving_of the preliminary 
termination_notice. 
Sources_said_that even though_MSEB_is not_purchasing power from DPC, the 
company is_not likely_to default on its payments to_lenders. This is because_
DPC_has some money left from the_disbursements of the first phase of_the 
project. It can use_the_money_to service its debt. It_can, however, not 
transfer the amount_to the second_phase without the lenders' permission. 
The company_also_has a sizable amount of "completion_equity"_over and above 
the base equity_to_bring_in if it chooses to_continue construction. 
According to sources, the_Indian lenders today wanted to know from Enron 
whether_it is actually_willing to stay back and_complete_the_project or