CHINA IS SETTING UP A COMPANY to raise money from foreign and domestic investors for the balance work on the Three Gorges dam. The China Yangtze Electric Corporation was formed on 29 September 2002, according to the China Daily, with the aim of selling shares on the Shanghai market next year. With listings in Hong Kong and elsewhere there will be public offerings till 2009 to pay for the 26 electric generators the dam will require. The 185m high dam costing a total of about US$27B is expected generate 18200MW when completed by 2009.
