Corporate Results of over 2500 companies Tuesday, January 25, 2000
fesub.gif (4328 bytes)
Full Story
fe.gif (834 bytes) flnews.gif (5153 bytes)
Search FE
-
Download
BSE Quotes
NSE Quotes
-
Think Tank
This week we focus on a complete analysis of the
derivatives industry
-
 

Hinduja Power denies Cong accusation of delay tactics in project implementation 

C Chitti Pantulu  
Hyderabad, January 24: Hinduja National Power Corporation chairman R J Shahaney has taken strong exception to the outburst of Andhra Pradesh Congress committee chief spokesman K Rosaiah against the project, coming up at Visakhapatnam.

In a letter to Rosaiah, a copy of which was released to the press here on Monday, Shahaney said the project was cleared for private implementation by the Congress governments at the Centre and the state when Rosaiah was the finance and power minister in the state.

The various policy reversals with every change in the government at the Centre, the long time in persuading the coal company for setting up a coal washery and sharing the risk in caol supplies are some of the reasons for the inordinate delays in the implementation of the 1,040 mw Hinduja National Power Vizag project, the letter has said.

Responding to allegations by the state Congress leadership that the promoters were indulging in delaying tactics, Shahney charged the party was trying to politicise the issue forits own ends. Taking serious objection to criticism by K Rosaiah, Shahaney said creating hurdles to the project, particulary when it was at a take-off stage, would be detrimental to the interests of Andhra Pradesh itself.

The sponsors have in no way benefitted from the delays but have only suffered heavy expenses in retaining the consultants and advisors to the project, the letter added.

"In the above circumstances, I am distressed at your comments which unfortunately do not project the factual situation", Shahney charged. Clarifying his party's stand on Monday, K Rosaiah said the Congress was not opposed to the project itself. "We are only opposed to the non-transparent manner it is being implemented", he said addressing a press conference in response to the letter by the HNPCL chairman.

Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.

- Lead Stories | Corporate | Infrastructure | Commodities | Economy/Finance | BSE Today | NSE/ Markets | Strategy | Convergence | After Hours top.gif (150 bytes)Top
flame.jpg (1068 bytes) © Copyright 1999: Indian Express Newspaper(Bombay) Ltd. All rights reserved throughout the world.
This entire edition is compiled in Mumbai by The Indian Express Online Media Limited, a division of
The Indian Express Group of Newspapers. Managed by The Indian Express Online Media Limited and hosted by CerfNet.