HOPES were growing last night that a rescue deal could save hundreds of North-East workers at troubled power giant Enron.

The American conglomerate is facing the largest bankruptcy ever seen in the US following the collapse of a multi-billion bid from rival Dynergy.

Last night, PriceWaterhouseCoopers was appointed administrator at the European holding company of the business.

But the administration order did not include Enron's Teesside businesses. This gave rise to speculation that one, or all four, of the electricity companies - including Northern Electric - which hold a 50 per cent stake, could be preparing to take it over.

Union leaders were last night seeking urgent talks with Enron about the collapse of its business and the effect on its 3,700-strong UK workforce.

Management at Teesside remained cautiously optimistic that their arm of the business - which includes Europe's biggest gas fired power station , at Wilton - would find a buyer. "We're hoping to come through this pretty much unscathed," said one source.

Local MPs welcomed the news that the two Teesside businesses had not been put into administration.

Ashok Kumar, MP for Middlesbrough South and East Cleveland, said: "Enron has been a very good company in Teesside, and it is good news for the moment for the people there."

Meanwhile, 45 workers at the Rolls-Royce plant in Sunderland are to lose their jobs - part of 3,800 cutbacks in the wake of the US terrorist attacks.

The uncertainty at Enron and Rolls-Royce will be off-set to a degree with two new jobs announcements later today.

In Darlington, a multi-million pound business park is due to be launched with the promise it will create 2,000 jobs.

One NorthEast and Darlington Borough Council are jointly funding the £1.5m infrastructure of the 28-acre fully-serviced site at Morton Palms, directly adjacent to the A66 on the southern outskirts of the town.

Woodlands, County Durham's first private hospital opened in the summer and a hotel complex is planned for the area.

Also later today, a deal securing the future of the Filtronic plant in Newton Aycliffe, County Durham, is due to be concluded.

The multi-million pound joint deal with US company M/A-Com and BAe Systems Avionics will boost capacity at the microchip factory, which employs more than 100 people.

West Yorkshire-based Filtronic bought the plant - opened exactly ten years ago by the Queen - from Fujitsu two years ago.

But the company quickly ran into financial difficulties with costs running at more than £1m a month.