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Huge Insurance Sum Offered for Key Dynamotor
An insurance deal worth 3.5 billion yuan (US$422 million) was made to guarantee normal operation of a twi-600,000 kilowatt dynamotor for a large power plant in Shanghai.
The insurance was jointly undertaken by the Shanghai branch of of the People's Insurance Co. of China and the Shanghai branch of Ping'an Insurance Company.
The dynamotor was the key component of the power project, which was part of the primary electric construction to be done in Shanghai's Ninth-Five Year Plan (1996-2000). With a total investment of 7 billion yuan (US$843 million), the power project takes equipment made through cooperation between domestic and foreign manufacturers.
The project was started in 1995, and the No. 1 dynamotor was completed and put into operation last May. The No. 2 dynamotor will be completed next March.
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