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Govt plans SPVs to restart Dabhol project: Aiyar

Our Bureau

New Delhi , March 22

NTPC, GAIL (India) Ltd, and Indian lenders to the Dabhol power project will contribute Rs 500 crore each as equity of a special purpose vehicle (SPV) being formed to restart the idle plant, said the Petroleum Minister, Mr Mani Shankar Aiyar.

"An empowered group of Ministers constituted by the Government has decided to restart the Dabhol project and has suggested a restructuring package, the implementation of which would be carried out through formation of SPVs," he said in a written reply to a question in the Rajya Sabha.

NTPC will restart the 2,184 MW power plant while GAIL would undertake LNG sourcing and operation of the LNG terminal.

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