SinoHydro to Receive $800 Million Loan for Largest Hydropower Project in Tibetan Region

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Researched by Industrial Info Resources (Sugar Land, Texas)-- SinoHydro Mao'ergai Hydropower Development Company Limited (Sichuan, China), a subsidiary of SinoHydro Corporation (Beijing), has signed a syndicated loan agreement for the Mao'ergai Hydropower Station, SinoHydro announced on December 29. The station, located in Sichuan province's Heishui County, is the largest hydropower project in the Tibetan Region to be built and invested by SinoHydro Mao'ergai. As an important reconstruction project after the magnitude-7.8 earthquake in May, the $1 billion project is scheduled to begin operation in the end of 2011.

SinoHydro Mao'ergai will receive $800 million, including $670 million from the State Development Bank of China (Beijing) and $130 from the Agricultural Bank of China (Beijing).

The National Development and Reform Commission approved plans for the project in February, and construction began in March. The first unit is scheduled to begin operation in 2011.

The plant will function as a supplementary water source for the Zipingpu Reservoir, solve the shortage of water supply in Chengdu during the dry season and help to meet demand in the Dujiayan Irrigation District.

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