CPIC invests in Sichuan hydropower
Updated: 2012-06-26 17:04
By Du Juan (chinadaily.com.cn)
|
||||||||
Now, all five major power groups in China have businesses in Sichuan, a sign of the growing investment enthusiasm in the province's hydropower industry.
CPIC's new company signed a cooperative contract with the Sichuan branch of the Bank of China, and the bank will ensure 20 billion yuan ($3 billion) in credit to support the company's development in the region, according to Xinhuanet.com.
Lu Qizhou, CPIC general manager, said the company will work on energy projects in Sichuan.
"The water resources in Sichuan are the second-largest in China," he said. "The company's advanced technologies in coal, power and aluminum industries will help to accelerate the projects."
Hydropower generation increased by 36 percent year-on-year in May, according to the National Development and Reform Commission, showing the great potential of the nation's water resources in power generation.
However, since the other four power groups have had hydropower plants operating years before CIPC, the new company could encounter difficulties in sharing the benefits in the area, said Lin Boqiang, a professor at the Center of China Energy Economics Research, Xiamen University.
dujuan@chinadaily.com.cn
- Relief reaches isolated village
- Rainfall poses new threats to quake-hit region
- Funerals begin for Boston bombing victims
- Quake takeaway from China's Air Force
- Obama celebrates young inventors at science fair
- Earth Day marked around the world
- Volunteer team helping students find sense of normalcy
- Ethnic groups quick to join rescue efforts
Most Viewed
Editor's Picks
Supplies pour into isolated villages |
All-out efforts to save lives |
American abroad |
Industry savior: Big boys' toys |
New commissioner
|
Liaoning: China's oceangoing giant |
Today's Top News
Health new priority for quake zone
Xi meets US top military officer
Japan's boats driven out of Diaoyu
China mulls online shopping legislation
Bird flu death toll rises to 22
Putin appoints new ambassador to China
Japanese ships blocked from Diaoyu Islands
Inspired by Guan, more Chinese pick up golf
US Weekly
Beyond Yao
|
Money power |