NEW DELHI(PTI): The anticipated tie up between London based Hinduja group and U.S. based mission energy for the 1000 mw thermal power station at Visakhapatnam in Andhra Pradesh has failed to materialize owing to differences over management sharing.
If either of the two manage to do so, a fresh proposal will have to be processed by the government and the entire clearance process repeated, an Economic Times report from Delhi says.
Besides mutual differences the US Company had earlier encountered problems with Indian rules and regulations and had threatened to walk out.
The collapse of this joint venture has dealt a major blow to private Sector participation in power.
Article extracted from this publication >> June 18, 1993
