DONGFANG Electric Co, one of the nine big mainland corporations seeking a Hongkong stock market listing this year, plans to upgrade its technology to meet increasing demand for hydro-electric power in China.
The Sichuan province-based generator company aims to take part in the Three Gorges project - the nation's most important hydro-electric power project.
The 18-year project, which was estimated in 1990 to cost 50 billion yuan (about HK$67.3 billion), will include a 185-metre-high dam and 26 hydro-power generating stations.
Officer-in-charge Luo Qimou said the company was confident of winning the right to build the power stations in partnership with overseas contractors.
To cope with the scale of the project, Dongfang has sought the latest technology through information transfers with Canada, Norway and Germany.
Mr Luo said the spin-off of Dongfang Electric Co - part of the Dongfang Electric Group, which includes Dongfang Turbine Co and Dongfang Boiler Co - for a separate listing, planned by the State Commission for Restructuring the Economy, was prompted by therise in mainland demand for hydro-electric power.
''The government reckons that hydro-electric power will become a major source of power in China and the western part of China, where Dongfang Electric Co is located, has the highest potential of generating hydro-electric power,'' he said.
