Terminated construction contract with DPC over payment dues
Received compensation on contractual claims made against MSEB
Proposes to associate itself with the Dabhol restart
Picking up equity in mega power projects right now not on the menu
Bechtel is currently involved in the development of coal-fired projects with large power generation capacities in Europe and the USA. Besides, the company, which had terminated its construction contract with the now-defunct Dabhol Power Company on June 17, 2001 for default in payment of dues, proposes to associate with the restarting of the Dabhol power project. Although Bechtel's engineers are regularly visiting the plant and assiting the NTPC-led team, it's yet to ink a formal contract for the same.
Bechtel, which has received compensation of $145 million towards its contractual claims made against the now-unbundled Maharashtra State Electricity Board in July last year, has already made it clear that it would not pick up any equity in the new Dabhol project but would be associated on a fee basis.