[6] In 2005, it was taken over and revived by converting it into the RGPPL (Ratnagiri Gas and Power Private Limited), a company owned by the Government of India.
[7] Starting in the mid-1990s, Unocal and its partners planned to build a 1,000 mile gas pipeline from Turkmenistan to Multan, in Pakistan at a cost of about $2 billion.
A sea route from Gwadar, Pakistan, to Dabhol, India, was never considered despite both locations being coastal towns.
In 1992, Enron approached the government of Maharashtra with the idea of setting up a 2,184 Megawatts LNG powered plant at Dabhol, Ratnagiri.
LNG for the project would be imported from Qatar through a 20 year contract with Enron, and the electricity produced would be purchased by the Government of Maharashtra for 20years.
Instead the project was financed by Enron, Bechtel, GE and five major lenders, one of which was located in India:[8] The plant was to be constructed in two phases.
On August 3, the Maharashtra state government ordered the project to be halted because of "lack of transparency, alleged padded costs, and environmental hazards."
[10] In 1996 when India's Congress Party was no longer in power, the Indian government assessed the project as being excessively expensive and refused to pay for the plant and stopped construction.
From 1996 until Enron's bankruptcy in 2001 the company tried to revive the project and spark interest in India's need for the power plant without success.
The MSEB refused to pay for all the power, and it became clear that getting the government to honor the guarantees would not be an easy task.
Decisions tend to be largely dependent upon political developments in the country as well as performance of newly repaired rotors.
As of 2016, the company continues to operate at a colossal loss, selling expensive electricity to either the state owned MSEDCL or India railways for survival.