China needs up to $5 billion to repair power lines, Bloomberg said.
State Grid Corp. of China, the bigger of the country's two electricity distributors, said it needs 39 billion yuan ($5 billion) to restore power links after heavy snowstorms damaged transmission lines.
The Beijing-based company had a ``direct economic loss'' of 10.5 billion yuan after the worst snowstorms in five decades disrupted power networks, it said in an e-mailed statement today.
China shut 7 percent of its coal-fired power plants last month as snowstorms hampered transportation. The government last week ordered authorities to restore all power grids by the end of March after the ``extremely bad weather'' caused damage in 21 provinces. State Grid's spending to repair networks is in addition to an original 2008 budget of 253.2 billion yuan.
``The snowstorm has caused severe losses to State Grid, and we face huge difficulties to restore power lines in such a short time,'' President Liu Zhenya said in the statement.
China's worst snowstorms since 1954 hit the southern provinces of Guangdong, Hunan, Guizhou and Jiangxi where sub- zero temperatures are rare. Millions of people were left without electricity and water, while road, rail and air routes were closed as an estimated 200 million migrant workers headed home for the New Year holidays that ended Feb. 12.
Ninety-five percent of people affected by power cuts had had their supplies switched back on by Feb. 14, State Grid said in today's statement.
State Grid supplies electricity to more than 1 billion people through a network that covers 88 percent of China's territory.
The Beijing-based company had a ``direct economic loss'' of 10.5 billion yuan after the worst snowstorms in five decades disrupted power networks, it said in an e-mailed statement today.
China shut 7 percent of its coal-fired power plants last month as snowstorms hampered transportation. The government last week ordered authorities to restore all power grids by the end of March after the ``extremely bad weather'' caused damage in 21 provinces. State Grid's spending to repair networks is in addition to an original 2008 budget of 253.2 billion yuan.
``The snowstorm has caused severe losses to State Grid, and we face huge difficulties to restore power lines in such a short time,'' President Liu Zhenya said in the statement.
China's worst snowstorms since 1954 hit the southern provinces of Guangdong, Hunan, Guizhou and Jiangxi where sub- zero temperatures are rare. Millions of people were left without electricity and water, while road, rail and air routes were closed as an estimated 200 million migrant workers headed home for the New Year holidays that ended Feb. 12.
Ninety-five percent of people affected by power cuts had had their supplies switched back on by Feb. 14, State Grid said in today's statement.
State Grid supplies electricity to more than 1 billion people through a network that covers 88 percent of China's territory.
Posts
0 comments
Post a Comment