Enron8217;s proposal for plant cleared

New Delhi, Dec 22: The Enron proposal is for a natural gas fired combined cycle power station based on imported Liquefied Natural Gas LNG at Dhabol in Maharashtra, an official release said here.

The Foreign Investment Promotion Board FIPB clearance would enable Enron to restructure foreign equity in the project.

Acting on recommendations of Foreign Investment Promotion Board, Commerce Minister Murasoli Maran cleared FDI proposals worth Rs. 1306 crore covering various sectors like agro-chemicals and acquaculture, computer software development and maintenance, power, ISP services, telecommunications, tourism, light and heavy engineering, management and engineering consultancy.

Other proposals cleared today include Rs 131.82 crore proposal of Baroda-based Frontline Solutions for setting up facilities for developing software for export, involving an FDI investment of upto 80 per cent.