Talks with Dabhol's foreign lenders to begin today

Domestic lenders to the Dabhol power project would hold talks with foreign lenders over two days here tomorrow to buy out the latter's debt exposure in the troubled project.

"We are continuing with the discussions but have not arrived at any financial figures of the foreign debt exposure," FI sources said here today.

The earlier round of talks between Indian and foreign lenders at Singapore in April had failed as the parties could not arrive at any conclusion.

The Indian lenders have offered thirty cents per dollar of the exposure in the Phase I and 60 cents for the phase II of the 2,184 mw project.

Most of the domestic lenders who have a collective exposure of about Rs 6,200 crore in the project have made provisioning towards the project.

The total debt exposure of the foreign lenders is about Rs 2,000 crore.