China Will Inject 15.1 Billion Yuan in Three Gorges Project This Year

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Last updated at: (Beijing Time) Thursday, February 21, 2002

China Will Inject 15.1 Billion Yuan in Three Gorges Project This Year

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As the Three Gorges Office under the State Council announced recently this year will see an investment of RMB 15.136 billion yuan into the Three Gorges Project, the largest sum of investment never seen before. From among the total, a lump sum of RMB 7.996 billion-yuan will be used for the construction of the hinge project and RMB 7.14 billion-yuan for handling the immigration of the people out from the reservoir area.

According to the briefing, the hinge project consists of five major goals: May will see the breakup of the cofferdam to let in water on the upper reach; July the breakup of cofferdam to let in water in the lower reach. And the same month sees the experimental operation of the ship-lock without water, followed with the experimentation with water in October and finally the damming up of water-diversion channel in November. With regard to the immigration work it is required to shift the people out from the inundated area under the watermark of 135 meters, and at the same time an all-round cleaning work of the reservoir bottom will be kicked off. Of all the work to be handled, the emigrants moved out from the reservoir area come to 143,700 heads, the houses to be reconstructed cover a floor space of 4.413 million square meters and the removal and shutdown of bankrupt industrial and mining enterprises come to 137 in all.

Last year the Three Gorges Project completed an investment of RMB 14.0 billion-yuan with the fiscal investment plan, the corresponding planned construction target and engineering volume all fulfilled or overfulfilled. Up to the end of last year, the Three Gorges Project completed a total investment of RMB 73.1 billion-yuan. This means the investment completed is within the range of the budgetary estimation as approved and controlled by the state on the condition that the engineering quality of the project is fully guaranteed.

Besides, this year will see the electric transmission and transformation project of the Three Gorges enter into the peak period for large-scale completion and operation with the whole year's investment amounting to RMB 5.08 billion-yuan. This will thereby guarantee that the power can be safely and reliably transmitted out when the first group of hydraulic turbines get into operation in 2003.

By PD Online staff member Han Rongliang

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