ENERGY

Indian State OKs Reliance Project: India’s western state of Maharashtra has approved a proposal for a 410-megawatt power plant by a private Indian company, following the cancellation of a deal with Enron Development Corp., Chief Minister Manohar Joshi said. He also said the state government received a letter from Houston-based Enron requesting a quick start to talks on renegotiating the company’s $2.8-billion project in the state. The Reliance plant, to be located 45 miles south of Bombay, will cost nearly $1 million per megawatt, compared to Enron’s $1.32 million per megawatt. The state government last week invited Enron for talks to consider renegotiating the deal after it offered to match the “nearest competitive tendered rate for a similar plant.”