Re: FW: Dabhol

[Npsingh123@aol.com]

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And all this while the consumers and businesses are starved of power all
over
India.

Reminds one of the famous saying of the deposed Late Shah of Iran. When
asked
by journalists to comment on the Iran's Revolutionary Council's charge
that
he had been a despot and a tyrant, the Shah replied, "People have called
me
everything, but no one has called me stupid."

It's anyone's guess who will come out looking stupid when the saga of
Dabohal
Power Company is finally over.





In a message dated 6/13/01 11:49:02 AM Central Daylight Time,
prabhu.guptara@ubs.com writes:

<< Since there was some discussion of Dabhol earlier, I thought
participants
 might be interested in the following which I have just received from a
 friend,
 with the comment "



 Dear Prabhu: Well, looks like someone else is as concerned about the
drift
 question as you and I are. I've met Elliot; he certainly is well
informed,
 and
 his notion of getting another owner into the deal is probably what must

 happen
 sooner rather than later -- I wish I could think of the right power
company
 that hasn't already been burned in India. "

 prabhu guptara



 POWER POLITICS

 Dangerous Drift On Dabhol

 By John Elliot

 No one seems to be terribly concerned that Enron's $3bn power project
at
 Dabhol, which is India's most high profile foreign investment, looks as
if
it
 is heading rapidly into a meltdown. Even stories that Enron is shifting

 executives' families out of the country - surely the actions of an
 organisation
 <deleted>
 this country, it will solve itself - which it will not. If anyone
doubts
 Enron's motive for ridding itself of its India business, just look at
its
 recent first quarter results: profits up 20% to $406m on sales that had

 almost
 quadrupled to $50 billion. Does anyone seriously think that Dabhol
matters
to
 such an international commodities trader?

 John Elliot is a journalist and analyst who has lived and worked in
India
for
 11 of the past 17 years. He now writes for FORTUNE magazine and
contributes
 to
 the International Herald Tribune, and the London-based New Statesman.
(By
 arrangement with Friday Corporation)
  >>



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