Contact: In Beijing Li Li 8610-65543361 ext. 2030
In Washington Kimberly Versak 1-202-473-1792
WASHINGTON, June 25, 2002¾The World Bank today approved a US$105 million loan for the China Hubei Hydropower Development in Poor Areas Project.
The key objectives of the project are:
· To expand electric power generation capacity in Hubei in an economically and environmentally sustainable manner in order to facilitate economic growth;
· To enhance the efficiency of the electricity sector in Hubei by commercializing county level generation companies; and,
· To contribute to poverty alleviation efforts in poor communities in Hubei with power generated from the plants.
The project will build four medium sized hydropower plants, with total installed capacity of 226 MW and individual capacities varying from 30 MW to 110 MW, in the mountainous areas in western Hubei Province. The power generated from the plants will be sold to the provincial grid.
The project will also have significant economic impacts in the area during construction through road improvements benefiting a population of 176,000; 5300 new jobs during the construction period, and 850 new jobs during operation.