Source: CCTV.com

11-13-2008 10:15

Special Report:   Global Financial Crisis

The construction of 3 nuclear power projects is also due to start at the end of the year. Fiscal spending will hit as much as 130 billion yuan on energy plants in Fujian's Fuqing, Zhejiang's Fangjiashan and Guangdong's Jiangyang.

The Bureau of Energy announced the new project on Wednesday, saying preparation for the three nuclear power stations will start soon.

Xu Yongsheng, Official of Energy Bureau said "The three nuclear power stations will be built in coastal areas that lack energy. The projects will be important for improving the energy structure and providing safe, environmentally-friendly and clean energy."

Meanwhile, the West-East Gas Pipeline Project should also help with the country's energy needs. Construction on the western part of the second line of the pipeline began in February. And construction on the eastern section of the pipeline, which runs from Ningxia's Zhongwei to Guangdong's Shenzhen to Hong Kong, is scheduled to start within the year.

Hu Weiping, Official of Energy Bureau said "According to preliminary estimates, gas pipeline construction costing 140 billion yuan will result in 300 billion yuan in investment in metallurgy and construction materials."

The second line of the pipeline will put into use by the end of 2011. It will transmit 30 billion cubic meters of gas every year.

The country will also invest 4 billion yuan to support power grid improvements. In addition, China plans to build oil storage capable of holding up to 26 million cubic meters of oil starting next year.

 

Editor:Xiong Qu