 making the 
cut in contractual savings look sensible. 
It hurts not because interest rates are low but because there is no growth to 
absorb bank funds. 
At this point of time, one may not be able to find the tomes of any 
international economist to analyse the Indian economy. High savings, nil 
growth, steep Government borrowings and pervasive hunger and the rest cannot 
be reconciled into a neat econometric equation. 
Only growth can help. Sure we (our patriotic politicians and bureaucrats) 
allowed Enron to milk us. Today, if you are not a critic of Enron, you are 
bound to be dubbed a traitor. But can the Maharashtra State Electricity Board 
(MSEB) make money and get bank funds if has to provide power free to large 
sections of the public? Can it get some funds to revamp the existing plants? 
For us, there is progress in getting stuck at the Hindu growth rate of 3 per 
cent to getting stranded at the Orange growth rate of 6 per cent as breaking 
free is 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 t