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Three Gorges above water

The leader of the Three Gorges project in China has said that it has controlled its rate of debts at 51% since the project started in 1993; an unusually low level for a large infrastructure project in China.

Li Yongan, deputy manager of The China Yangtze Three Gorges Project Development Corporation, said the regular cash surplus of the strictly controlled construction investment is an important indicator of the project’s sound financial condition, but it is also a result of China’s low interest rates.

Strong financial backing for the project has come from the Chinese government (around US$3.6B so far), and two interest-free sources: profits from the Gezhouba power plant and levies from increased hydro prices.