LOS ANGELES -- The Salt River Project has announced that fiscal 1991 saw the Phoenix-based utility incur its second operating loss in a row, mainly because of a write-off of its investment in a major coal-fired power unit.

The utility said it is charging off $203.7 million of the $268.7 million invested in Coronado Generating Station Unit 3, a coal-fired plant on which construction was suspended in 1988. The write-down, combined with the nonrecurring costs of a major reorganization, produced a $218 million loss in the fiscal year that ended April 30.

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