Jun. 8, 2010 (China Knowledge) - China Gezhouba Group Co Ltd<600068>, the main contractor of the Three Gorges Hydroelectric Project, will build a hydropower plant in Ecuador, Jorge Glas, a senior Ecuadorian government official, said last week.
Glas disclosed that the project is valued at US$600 million. Both parties are expected to sign the contract within three months, he added.
The hydropower plant, which is called Sopladora, is located in the Paute River.
In April, China Gezhouba Group saw profit rise 63% year on year to over RMB 1.32 billion in 2009. The company estimated that its output value would reach RMB 32.64 billion and that the value of its contracts would exceed RMB 50 billion this year, according to an earlier report from China Knowledge.
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