March 23, 2006
Project progress update: By the end of March 2001, Three Gorges project had completed one-third of its total projected investment, laying a solid foundation for the operation of some of its generators by 2003 as scheduled
The Three Gorges project had completed one-third of its total projected investment by the end of last month, laying a solid foundation for the operation of some of its generators by 2003 as scheduled. According to a statement by the China Yangtze Three Gorges Project Development Corp, the world’s largest hydropower project has absorbed a total investment of 60.9 billion yuan (US$7.4 billion) since 1993, including 25.9 billion yuan (US$3.1 billion) used in the replacement of local residents out of the dam area. Earlier in February, Guo Tao, vice-general manager of the company, said no more than 180 billion yuan (US$21.8 billion) would be poured into the project, so long as the national policy and economy remained stable. According to the statement, 13.2 billion yuan (US$1.6 billion) will be invested in the project this year, the largest annual investment seen in the past seven years. The statement said 997,600 cubic metres of cement had been poured over the past three months for the foundations of the gigantic plant. This year, about 4.1 million cubic metres of cement will be poured. The laying of cement is essential for the second phase of construction on the project – the building of a dam and a hydropower plant on the bank of the Yangtze River by 2003. By 2003, a huge reservoir, shiplift and three or four generators will have been put into operation.
Categories: Three Gorges Probe