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Saturday Dec 09 2000 | Updated 0049 hrs IST 1419 EST
Ogden mulls pulling out of S Kumars power arm

Anto T Joseph & Sangita Mehta
MUMBAI
OGDEN Energy of the US is on the verge of walking out of the S Kumars-promoted Shree Maheshwar Hydel Power Corporation.

The Indian promoters have already opened talks with a few international power utilities from Australia and Canada to sell a 49 per cent stake.

According to a spokesperson of S Kumars, "Ogden has been dragging its feet, and we have opened talks with a few international power utilities."

Patrick Hart, country head of Ogden Energy, could not be reached for his comments. The US IPP had earlier almost finalised an agreement to pick up a 49 per cent stake in the Rs 2,254-crore hydel project.
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Ogden mulls pulling out of S Kumars power arm



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