The No. 7 Sino-Hydro Bureau Co., Ltd will spend 3.8 billion yuan developing hydropower resources in Ganzi Tibet Prefecture, southwest China's Sichuan Province.
According to Zhang Jianwen, general manager of the Bureau, the financing will be used to complete the second phrase of the Jiulong River basin project and to set up three hydroelectric stations with a total installed capacity of 494 mw in this area.
The China Construction Bank and four other banks will provide the financing to the bureau, under a loaning agreement signed with latter in the Sichuan provincial capital of Chengdu on April 1.
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