Dabhol

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A subsidiary of the Enron Development Corporation in India: the Dabhol Power Corporation (DPC) "project in the state of Maharashtra constitutes the largest single foreign investment in India, and its history, since 1992, raises questions intrinsic to any serious discussion of the importance of human rights concerns to governments and companies designing investment strategies."

"In 1992, as part of an effort to liberalize the economy, the government of India announced that it was privatizing its energy sector. In the middle of 1992, the government of Maharashtra state announced that the Enron Corporation would build the largest electricity generating plant in the world for Maharashtra at a cost of approximately $3 billion. The operating company would be known as the Dabhol Power Corporation—a joint venture of three U.S. companies: the Enron Corporation, General Electric, and the Bechtel Corporation. Enron is the overseer of the company, originally holding 80 percent ownership. General Electric and Bechtel each hold 10 percent. In November 1998, the Maharashtra government’s Maharashtra State Electricity Board (MSEB) bought a 30 percent share of the DPC from Enron, reducing Enron’s stake to 50 percent."

Source: Human Rights Watch