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Huge Loans Extended for East China Power Grid
A Shanghai-based bank has provided a loan of 1.8 billion yuan (about 217 million US dollars) to a power transmission project in east China's Jiangsu Province.
The project will increase the capability of East China Power Grid to transmit electricity from northern to southern China, experts said.
The loans, extended by the State Development Bank Shanghai Branch, will be used for construction of a number of sub-stations in Jiangsu province.
East China Power Grid, a major power grid in China, covers Jiangsu, Zhejiang, Anhui provinces and Shanghai.
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