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20 Bn Yuan Less Investment Than Planned for Three Gorges Project
It is learned from China Yangtze Three Gorges Project Development Corporation that the construction fund for the Three Gorges Dam Project is relatively economical, because the total investment will be about 20 billion yuan less than the planned dynamic investment.
Li Yong'an, deputy general manager of the Corporation, said that the investment for the three Gorges Dam Project includes two parts: one is the static investment of 50.9 billion yuan needed for the key project construction.; the other is the expense for the relocation of local residents. The static investment is 40 billion yuan. The static investment for the whole project is 90.9 billion yuan estimated on the basis of the price level in 1993. Considering the price rises and interest on loans and other factors during the 17-year construction period, when the project is completed, it will cost an estimated sum of 203.9 billion yuan.
Li said that construction of the three Gorges Dam project has been proceeding for more than seven years. With the pickup of price and the fall of interest rate resulted from the implementation of the State macro-control policy, so far the project investment has been kept within the preliminary estimation. If there is no major macroeconomic fluctuation, then the project can be completed at a cost of only 180 billion yuan in 2009, nearly 20 billion yuan less than the estimated dynamic investment.
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