Monday, March 12, 2012

China Power in 'Active Talks' With Myanmar Over Dam

China Power in 'Active Talks' With Myanmar Over Dam
March 10, 2012
Wall Street Journal

BEIJING�China Power Investment Corp. is in "active talks" with the
Myanmar government to resume development of a $3.6 billion hydroelectric
dam that was halted last year due to environmental and human-rights
concerns, the head of China Power said Saturday.

Speaking at news conference, Chairman Lu Qizhou said he would like to
see the project resume as early as possible once concerns were
addressed. "Chinese companies should learn from this experience to
better cooperate with nongovernmental organizations in foreign
countries," he added.

Mr. Lu said last year that halting development of the dam would "lead to
a series of legal issues."

Myanmar President Thein Sein halted the project in September, saying it
was against the will of the people. He added that work should halt for
the duration of his term, at least until 2015.

The Myitsone dam project was met with deep opposition because it would
submerge historical sites and resettle thousands of residents.

About 90 per cent of the power generated by the 6-gigawatt plant was
earmarked to go to state-run China Power, which would earn about 70 per
cent of its profits, according to International Rivers, a Berkeley,
Calif., advocacy group. The plant was to go online in 2018.

By Sarah Chen

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