The Enron Caper

The Enron Caper P Purkayastha The contours of Enron's Dhabol power project are becoming clearer. The government of Maharashtra and the union government are to underwrite all the risks of the project, provide an average return of over 40 per cent, guarantee a 90 per cent offtake by shutting down much cheaper generation and provide various other facilities under threat of penalties. Enron will bring in Rs 30 crore, own the plant and have minimal liabilities. The Dhabol project is going to be an albatross round the neck of the people of Maharashtra.