Bond issue planned for 3Borges project

The 3 Gorges dam project in China is creating a “vast potential opportunity for foreign investors and manufacturers,” according to the China Daily.

Lu Youmei, China Yangtze 3 Gorges Project Development Corp. president, announced plans to issue bonds to overseas investors this year. The bonds are expected to help fill the (US)$119 million gas in this year`s (US)$833 million investment. The plan is being studied by several government departments.

Lu said the company also needs to import more foreign machinery and equipment this year, especially heavy-duty and large items such as concrete mixers and pouring machines.

Last year the company spent more than (US)$13 million buying construction equipment from the United States.

Lu said foreign businesses could pick up contracts valued at between (US)$600 million and (US)$1 billion. He invited foreign manufacturers to export more machinery, equipment and technology for the project.

To date, more than (US)$654 million in contracts has been awarded.