Enron again
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.