better late than never seems to be the motto of Enron Corp. The multinational company (mnc) has been struggling for five years to gain a foothold in India, its efforts almost symbolising the challenges faced by foreign investors in India. Enron recently said that it was pursuing additional projects in the country and will help other mncs crack the Indian market.
Enron had been battling government opposition on economic and environmental grounds and was involved in two dozen lawsuits before the construction of the us $2.5 billion Dabhol plant south of Mumbai was resumed after a 16-month long suspension. Enron has now bid for four private power projects in Tamil Nadu to the tune of more than us $1 billion. Under a scheme discussed with many uk and us-based companies, there will be a joint bid for power projects where Enron would assume the "lion's share of the development work", said Kenneth Lay, chairperson of the Houston-based firm. He confirmed this after meeting the Maharashtra government.
We are a voice to you; you have been a support to us. Together we build journalism that is independent, credible and fearless. You can further help us by making a donation. This will mean a lot for our ability to bring you news, perspectives and analysis from the ground so that we can make change together.
Comments are moderated and will be published only after the site moderator’s approval. Please use a genuine email ID and provide your name. Selected comments may also be used in the ‘Letters’ section of the Down To Earth print edition.