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BOC Provides Loans for Power Station in West China
The Bank of China (BOC) has collected 220 million francs (about US$32 million) in mixed loans for the construction of a 240-MW water power station in southwest China's Sichuan Province.
About 80 percent of the long-term, low-interest loans are from the French government, and the rest in the form of buyer's credit, a bank official said on May 16.
The Zhile water power station, to be located in western Sichuan, will yield 588 million KWH of electricity annually.
The station is expected to optimize the electricity supply structure in Sichuan and promote the economic development of west China.
The loans will be used to purchase waterwheel generators, the official said.
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