| China, Russia to invest US$10 billion in power plants for Chinese northeast |
BEIJING, Oct. 12 (AP) -- Chinese and Russian companies plan to invest US$10 billion (€8 billion) in new power plants to supply northeastern China's growing energy needs, a government newspaper said Thursday.
The plants are to be built along China's northeastern border with Russia over the next five years and fueled with coal imported from Siberia, the China Daily said.
China is building dozens of power plants to cope with rising energy demands amid an economic boom. Areas throughout the country have suffered blackouts over the past four years as factories, homes, shopping malls and others compete for supplies.
The partners in the project are China's State Grid Corp. and the Russian power monopoly Unified Energy System, the report said, citing a statement by State Grid, China's biggest power company.
The project will have a total annual generating output of 60 billion kilowatt-hours, twice the current power output of Russia's Far East, the newspaper said.
It didn't give any other financial details or say where the plants would be located.
State Grid also plans to import power from generating stations that it plans to build in Mongolia, which borders China to the north, and Kazakhstan in Central Asia, the China Daily said.
"China's electricity demand will continue its fast growth in the coming years," Bai Jianhua, a senior analyst at the government's State Power Economic Research Center, was quoted as saying.
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