Latest news with #PowerConstructionCorporationofChina
India.com
17 hours ago
- Business
- India.com
Big worry for India as China launches 'Water Bomb', begins construction of Brahmaputra Mega Dam, Delhi on Alert as it will…
New Delhi: China has formally started the construction of a USD 167.8 billion dam over the Brahmaputra River in Tibet, close to the Indian border in Arunachal Pradesh. Chinese Premier Li Qiang announced the start of the construction of the dam at a groundbreaking ceremony in the lower reaches of the Brahmaputra River, locally known as Yarlung Zangbo, at Nyingchi City, official media reported. According to the state-run Xinhua news agency, the ceremony took place at the dam site of Nyingchi's Mainling hydropower station in Tibet Autonomous Region. The hydropower project, regarded as the biggest infrastructure project in the world, raised concerns in the lower riparian countries, India and Bangladesh. Here are some of the key details: The project will consist of five cascade hydropower stations The project will need a total investment estimated at around 1.2 trillion Yuan (about USD 167.8 billion) According to a 2023 report, the hydropower station is expected to generate more than 300 billion kWh of electricity each year The dam is to be built at a huge gorge in the Himalayan reaches where the Brahmaputra River makes a huge U-turn to flow into Arunachal Pradesh and then to Bangladesh. It will primarily deliver electricity for external consumption while also addressing local demand in Tibet, which China officially refers to as Xizang. Representatives from various organisations, including the National Development and Reform Commission and the Power Construction Corporation of China and locals attended the ceremony, the report said. According to earlier reports, the size of the project would dwarf any other single infrastructure project on the planet, including China's own Three Gorges dam, regarded as the largest in the world. China has already operationalised the USD 1.5 billion Zam Hydropower Station, the largest in Tibet, in 2015, which raised concerns in India. Concerns Arose In India: Concerns arose in India as the dam besides empowering China to control the water flow, the size and scale of it could also enable Beijing to release large amounts of water flooding border areas in times of hostilities. India too is building a dam over Brahmaputra in Arunachal Pradesh. India and China established the Expert Level Mechanism (ELM) in 2006 to discuss various issues related to trans-border rivers under which China provides India with hydrological information on the Brahmaputra river and Sutlej river during the flood seasons. Data sharing of trans-border rivers figured in the talks between India, China Special Representatives (SRs) for border question, NSA Ajit Doval and Chinese Foreign Minister Wang Yi, held here on December 18 last year. The Brahmaputra Dam presents enormous engineering challenges as the project site is located along a tectonic plate boundary where earthquakes occur. The Tibetan plateau, regarded as the roof of the world, frequently experiences earthquakes as it is located over the tectonic plates.
Yomiuri Shimbun
a day ago
- Business
- Yomiuri Shimbun
China Embarks on World's Largest Hydropower Dam, Capital Markets Cheer
HONG KONG/SHANGHAI, July 21 (Reuters) – China's Premier Li Qiang announced construction had begun on what will be the world's largest hydropower dam, on the eastern rim of the Tibetan Plateau, at an estimated cost of at least $170 billion, the official Xinhua news agency said. Commencement of the hydropower project, China's most ambitious since the Three Gorges Dam on the Yangtze, was seized by Chinese markets as proof of economic stimulus, sending stock prices and bond yields higher on Monday. Made up of five cascade hydropower stations with the capacity to produce 300 billion kilowatt-hours of electricity annually, equal to the amount of electricity consumed by Britain last year, the dam will be located in the lower reaches of the Yarlung Zangbo. A section of the river tumbles 2,000 meters (6,561 feet) in a span of 50km (31 miles), offering huge hydropower potential. India and Bangladesh have already raised concerns about its possible impact on the millions of people downstream, while NGOs warned of the risk to one of the richest and most diverse environments on the plateau. Beijing has said the dam will help meet power demand in Tibet and the rest of China without having a major effect on downstream water supplies or the environment. Operations are expected sometime in the 2030s. China's CSI Construction & Engineering Index .CSI399995 jumped as much as 4% to a seven-month high. Power Construction Corporation of China and Arcplus Group PLC surged by their 10% daily limit. 'From an investment perspective, mature hydropower projects offer bond-like dividends,' Wang Zhuo, partner of Shanghai Zhuozhu Investment Management said, while cautioning that speculative buying into related stocks would inflate valuations. The project will drive demand for construction and building materials such as cement and civil explosives, Huatai Securities said in a note to clients. Shares of Beijing-listed Hunan Wuxin Tunnel Intelligent Equipment Co which sells tunnel construction equipment, surged 30%. So did shares of Geokang Technologies Co Ltd which makes intelligent monitoring terminals. Cement maker Xizang Tianlu Co Ltd and Tibet GaoZheng Explosive Co producer of civil explosive materials, both jumped their maximum 10%. BROADER IMPACT The Chinese premier described the dam as a 'project of the century' and said special emphasis 'must be placed on ecological conservation to prevent environmental damage,' Xinhua said on Saturday. Government bond yields rose across the board on Monday, with the most-traded 30-year treasury futures CTLU5 falling to five-week lows, as investors interpreted the news as part of China's economic stimulus. The project, overseen by the newly formed state-owned China Yajiang Group, marks a major boost in public investment to help bolster economic growth as current drivers show signs of faltering. 'Assuming 10 years of construction, the investment/GDP boost could reach 120 billion yuan ($16.7 billion) for a single year,' said Citi in a note. 'The actual economic benefits could go beyond that.' China has not given an estimate on the number of jobs the project could create. The Three Gorges, which took almost two decades to complete, generated nearly a million jobs, state media reported, though it displaced at least a similar number of people. Authorities have not indicated how many people would be displaced by the Yarlung Zangbo project. The Yarlung Zangbo becomes the Brahmaputra River as it leaves Tibet and flows south into India and finally into Bangladesh. NGOs say the dam will irreversibly harm the Tibetan Plateau and hit millions of people downstream. The chief minister of Arunachal Pradesh, Pema Khandu, said earlier this year that such a colossal dam barely 50km from the border could dry out 80% of the river passing through the Indian state while potentially inundating downstream areas in Arunachal and neighboring Assam state. Some experts also express concerns for a project in a seismically active zone.
Qatar Tribune
a day ago
- Business
- Qatar Tribune
Stimulus boost: China launches massive hydropower dam
Agencies China has launched the construction of what will be the world's largest hydropower dam, on the eastern rim of the Tibetan Plateau, at an estimated cost of at least $170 billion, the official Xinhua news agency said. Commencement of the hydropower project, China's most ambitious since the Three Gorges Dam on the Yangtze, was seized by Chinese markets as proof of economic stimulus, sending stock prices and bond yields higher on Monday. Made up of five cascade hydropower stations with the capacity to produce 300 billion kilowatt-hours of electricity annually, equal to the amount of electricity consumed by Britain last year, the dam will be located in the lower reaches of the Yarlung Zangbo. A section of the river tumbles 2,000 meters (6,561 feet) in a span of 50 kilometers (31 miles), offering huge hydropower potential. India and Bangladesh have already raised concerns about its possible impact on the millions of people downstream, while nongovernmental organizations (NGOs) warned of the risk to one of the richest and most diverse environments on the plateau. Beijing has said the dam will help meet power demand in Tibet and the rest of China without having a major effect on downstream water supplies or the environment. Operations are expected sometime in the 2030s. China's CSI Construction and Engineering Index jumped as much as 4% to a seven-month high. Power Construction Corporation of China and Arcplus Group PLC surged by their 10% daily limit. 'From an investment perspective, mature hydropower projects offer bond-like dividends,' Wang Zhuo, partner of Shanghai Zhuozhu Investment Management, said, while cautioning that speculative buying into related stocks would inflate valuations. The project will drive demand for construction and building materials such as cement and civil explosives, Huatai Securities said in a note to of Beijing-listed Hunan Wuxin Tunnel Intelligent Equipment Co., which sells tunnel construction equipment, surged 30%. So did shares of Geokang Technologies Co. Ltd., which makes intelligent monitoring terminals. Cement maker Xizang Tianlu Co. Ltd. and Tibet GaoZheng Explosive Co., producer of civil explosive materials, both jumped 10%. China's Premier Li Qiang described the dam as a 'project of the century' and said special emphasis 'must be placed on ecological conservation to prevent environmental damage,' Xinhua said on Saturday. Government bond yields rose across the board on Monday, with the most-traded 30-year treasury futures falling to five-week lows, as investors interpreted the news as part of China's economic stimulus. The project, overseen by the newly formed state-owned China Yajiang Group, marks a major boost in public investment to help bolster economic growth as current drivers show signs of faltering. 'Assuming 10 years of construction, the investment/GDP boost could reach 120 billion yuan ($16.7 billion) for a single year,' said Citi in a note. 'The actual economic benefits could go beyond that.' China has not given an estimate on the number of jobs the project could create. The Three Gorges, which took almost two decades to complete, generated nearly a million jobs, state media reported, though it displaced at least a similar number of people. Authorities have not indicated how many people would be displaced by the Yarlung Zangbo project. The Yarlung Zangbo becomes the Brahmaputra River as it leaves Tibet and flows south into India and finally into Bangladesh. NGOs say the dam will irreversibly harm the Tibetan Plateau and hit millions of people downstream. The chief minister of Arunachal Pradesh, Pema Khandu, said earlier this year that such a colossal dam barely 50 km from the border could dry out 80% of the river passing through the Indian state while potentially inundating downstream areas in Arunachal and neighboring Assam state.
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Business Standard
a day ago
- Business
- Business Standard
China starts building world's largest hydropower project in Tibet
China's Premier Li Qiang announced construction had begun on what will be the world's largest hydropower dam, on the eastern rim of the Tibetan Plateau, at an estimated cost of at least $170 billion, the official Xinhua news agency said. Commencement of the hydropower project, China's most ambitious since the Three Gorges Dam on the Yangtze, was seized by Chinese markets as proof of economic stimulus, sending stock prices and bond yields higher on Monday. Made up of five cascade hydropower stations with the capacity to produce 300 billion kilowatt-hours of electricity annually, equal to the amount of electricity consumed by Britain last year, the dam will be located in the lower reaches of the Yarlung Zangbo. A section of the river tumbles 2,000 metres (6,561 feet) in a span of 50km (31 miles), offering huge hydropower potential. India and Bangladesh have already raised concerns about its possible impact on the millions of people downstream, while NGOs warned of the risk to one of the richest and most diverse environments on the plateau. Beijing has said the dam will help meet power demand in Tibet and the rest of China without having a major effect on downstream water supplies or the environment. Operations are expected sometime in the 2030s. China's CSI Construction & Engineering Index jumped as much as 4 per cent to a seven-month high. Power Construction Corporation of China and Arcplus Group PLC surged by their 10 per cent daily limit. "From an investment perspective, mature hydropower projects offer bond-like dividends," Wang Zhuo, partner of Shanghai Zhuozhu Investment Management said, while cautioning that speculative buying into related stocks would inflate valuations. The project will drive demand for construction and building materials such as cement and civil explosives, Huatai Securities said in a note to clients. Shares of Beijing-listed Hunan Wuxin Tunnel Intelligent Equipment Co, which sells tunnel construction equipment, surged 30 per cent. So did shares of Geokang Technologies Co Ltd, which makes intelligent monitoring terminals. Cement maker Xizang Tianlu Co Ltd and Tibet GaoZheng Explosive Co, producer of civil explosive materials, both jumped their maximum 10 per cent. BROADER IMPACT The Chinese premier described the dam as a "project of the century" and said special emphasis "must be placed on ecological conservation to prevent environmental damage," Xinhua said on Saturday. Government bond yields rose across the board on Monday, with the most-traded 30-year treasury futures falling to five-week lows, as investors interpreted the news as part of China's economic stimulus. The project, overseen by the newly formed state-owned China Yajiang Group, marks a major boost in public investment to help bolster economic growth as current drivers show signs of faltering. "Assuming 10 years of construction, the investment/GDP boost could reach 120 billion yuan ($16.7 billion) for a single year," said Citi in a note. "The actual economic benefits could go beyond that." China has not given an estimate on the number of jobs the project could create. The Three Gorges, which took almost two decades to complete, generated nearly a million jobs, state media reported, though it displaced at least a similar number of people. Authorities have not indicated how many people would be displaced by the Yarlung Zangbo project. The Yarlung Zangbo becomes the Brahmaputra River as it leaves Tibet and flows south into India and finally into Bangladesh. NGOs say the dam will irreversibly harm the Tibetan Plateau and hit millions of people downstream. The chief minister of Arunachal Pradesh, Pema Khandu, said earlier this year that such a colossal dam barely 50km from the border could dry out 80 per cent of the river passing through the Indian state while potentially inundating downstream areas in Arunachal and neighbouring Assam state.
Observer
2 days ago
- Business
- Observer
China embarks on world's largest hydropower dam, capital markets cheer
China's Premier Li Qiang announced construction had begun on what will be the world's largest hydropower dam, on the eastern rim of the Tibetan Plateau, at an estimated cost of at least $170 billion, the official Xinhua news agency said. Commencement of the hydropower project, China's most ambitious since the Three Gorges Dam on the Yangtze, was seized by Chinese markets as proof of economic stimulus, sending stock prices and bond yields higher on Monday. Made up of five cascade hydropower stations with the capacity to produce 300 billion kilowatt-hours of electricity annually, equal to the amount of electricity consumed by Britain last year, the dam will be located in the lower reaches of the Yarlung Zangbo. A section of the river tumbles 2,000 metres (6,561 feet) in a span of 50km (31 miles), offering huge hydropower potential. India and Bangladesh have already raised concerns about its possible impact on the millions of people downstream, while NGOs warned of the risk to one of the richest and most diverse environments on the plateau. Beijing has said the dam will help meet power demand in Tibet and the rest of China without having a major effect on downstream water supplies or the environment. Operations are expected sometime in the 2030s. China's CSI Construction & Engineering Index jumped as much as 4% to a seven-month high. Power Construction Corporation of China and Arcplus Group PLC surged by their 10% daily limit. "From an investment perspective, mature hydropower projects offer bond-like dividends," Wang Zhuo, partner of Shanghai Zhuozhu Investment Management said, while cautioning that speculative buying into related stocks would inflate valuations. The project will drive demand for construction and building materials such as cement and civil explosives, Huatai Securities said in a note to clients. Shares of Beijing-listed Hunan Wuxin Tunnel Intelligent Equipment Co, which sells tunnel construction equipment, surged 30%. So did shares of Geokang Technologies Co Ltd, which makes intelligent monitoring terminals. Cement maker Xizang Tianlu Co Ltd and Tibet GaoZheng Explosive Co, producer of civil explosive materials, both jumped their maximum 10%. The Chinese premier described the dam as a "project of the century" and said special emphasis "must be placed on ecological conservation to prevent environmental damage," Xinhua said on Saturday. Government bond yields rose across the board on Monday, with the most-traded 30-year treasury futures falling to five-week lows, as investors interpreted the news as part of China's economic stimulus. The project, overseen by the newly formed state-owned China Yajiang Group, marks a major boost in public investment to help bolster economic growth as current drivers show signs of faltering. "Assuming 10 years of construction, the investment/GDP boost could reach 120 billion yuan ($16.7 billion) for a single year," said Citi in a note. "The actual economic benefits could go beyond that." China has not given an estimate on the number of jobs the project could create. The Three Gorges, which took almost two decades to complete, generated nearly a million jobs, state media reported, though it displaced at least a similar number of people. Authorities have not indicated how many people would be displaced by the Yarlung Zangbo project. The Yarlung Zangbo becomes the Brahmaputra River as it leaves Tibet and flows south into India and finally into Bangladesh. NGOs say the dam will irreversibly harm the Tibetan Plateau and hit millions of people downstream. The chief minister of Arunachal Pradesh, Pema Khandu, said earlier this year that such a colossal dam barely 50km from the border could dry out 80% of the river passing through the Indian state while potentially inundating downstream areas in Arunachal and neighbouring Assam state. Some experts also express concerns for a project in a seismically active zone.
