Sunday, 23 October 2011

International Investment

Given the controverted impact on the local environment and community of the Myitsome Dam on the Irrawady River in northern Myanmar, it was probably unwise to dub it China's overseas Three Gorges Dam, as Myanmar's government suspended the construction of the $3.6bn hydroelectric dam being built by China Power Investment Corporation, saying the project "is against the will of the peopleā€. A Chinese FM spokesman called on Myanmar to protect the rights of Chinese companies, saying the project, that has a capacity of up to 6,000 MW, 90% of which is supposed to go to China, "has undergone scientific evaluation and strict examination by both sides." The Chinese builder had reportedly spent $25m resettling people on the upper reaches of the river, and China is also concerned over the prospect of building oil and gas pipelines that will run from the Bay of Bengal into southern China, the most strategically important project in Myanmar.


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