Beijing–The Three Gorges company will not be floated on the stock market because it is beset with economic and technical problems, said Yuan Guolin, retired deputy general manager of the Three Gorges Development Company and a delegate to the CPPCC. The project is due to start generating electricity in 2003, but the China Business Times ran a story headlined "Who will buy the Three Gorges Electricity?" quoting Mr Yuan as saying he doubts it will have any customers. It was originally planned that the electricity would be bought by 10 provinces and cities but none are now short of power. These provinces and cities are still pushing to build new nuclear and thermal power plants because they generate much bigger tax revenues. Mr Yuan also said the company would not be listed, partly because it might swamp the domestic market and also because the state was providing enough financial resources. He expressed fears about the unprecedented technical problems facing engineers who will have to install generators and turbines bought from 19 factories in seven countries. It may prove difficult for them to function together, especially as they will have to be adapted to cope with winter temperatures and water-level differences of 30 to 40 metres. Supervision of the project, which is costing about 40 million yuan (HK$37.6 million) a day, is another problem, he said, alluding to rampant corruption plaguing construction and resettlement. "This too much money to oversee," he said. Most of the funds earmarked for the resettlement of families displaced by the Three Gorges Dam project which had been embezzled have been recovered, said Chongqing Vice-mayor Gan Yuping yesterday. Officials who had pocketed the money had been given stiff sentences and about 80 per cent of the money siphoned off had been recovered, Mr Gan said.