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Three Gorges Project Getting $0.46 Billion Insurance Premium
The People's Insurance Company of China, China Pacific Insurance Company and China Ping'an Insurance Company will jointly offer the insurance guarantee up to $0.46 billion to the project of transmitting and converting electricity from the Three Gorges to Changzhou.
According to the introduction, the project of transmitting and converting electricity is an important part of the Three Gorges Projects. The task is to send the electric power outside. It connects with central China, east China and Sichun, covering Hubei, Hunan, Jiangsus, Shanghai, Sichuan.etc about 10 provinces and cities. According to the design, the project adopts the direct current mode of power transmission. They will build direct current 2200 kilometers of transmission wire of electricity. At present, the direct current transmission from the Three Gorges to Changzhou has already been put into operation. In order to guarantee the high quality, safe construction of project, to evade the project risk, the State Power Utility Co. called for bid on the insurance matters of project and has accepted the People's Insurance Company of China as the first undertaker for the insurance of this project, together with China Pacific Ocean Insurance Company and China Ping'an Insurance Company.
The vice general manager of The People's Insurance Company of China Wang Yi expresses, PICC will cooperate closely with other two insurance companies, observe every regulation of the insurance agreement together, execute the contract of insurance conscientiously , and serve the engineering construction with swift, high quality and high efficient insurance.
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