Rebecca Mark, once one of the most powerful business person in USA probably never visited Andhra Pradesh. She had cast a magic spell on greedy politicians, bureaucrats and Financial institutes in India and also in many other countries. In the highly inflated Enron plant cost estimates, she made liberal provision to educate Indian people. But we never tried to learn.
Enron exposed in USA went bankrupt in 2001but plant at Ratnagiri was salvaged with public money in India.NTPC and GAIl were made to pump money and everyone knows that plant will never break even even after writing off all bank loans by buying the feed LNG from market. Writing off investment would invite caustic comments by CAG and the only alternative left to the promoter GAIL is to keep the sick plant on notionally alive category is to pump low cost gas from KG fields whether A.P likes it or not.
All the suppliers to Enron made money by supplying plant and parts that could not be used, Indian FIs wrote off investment, NTPC & GAIL the public sector undertakings had been made to pump public money to keep the lid on. And who would have imagined dining and wining of sexy Rebecca by Indian politicians would switch off power to million homes in distant place called Andha Pradesh.
Enron exposed in USA went bankrupt in 2001but plant at Ratnagiri was salvaged with public money in India.NTPC and GAIl were made to pump money and everyone knows that plant will never break even even after writing off all bank loans by buying the feed LNG from market. Writing off investment would invite caustic comments by CAG and the only alternative left to the promoter GAIL is to keep the sick plant on notionally alive category is to pump low cost gas from KG fields whether A.P likes it or not.
All the suppliers to Enron made money by supplying plant and parts that could not be used, Indian FIs wrote off investment, NTPC & GAIL the public sector undertakings had been made to pump public money to keep the lid on. And who would have imagined dining and wining of sexy Rebecca by Indian politicians would switch off power to million homes in distant place called Andha Pradesh.
