Shock as Myanmar halts dam project
Source: Agencies |
October 5, 2011, Wednesday
|
Print Edition
Print Edition
THE Chinese company involved in a stalled US$3.6 billion dam project has expressed shock at the Myanmar government's decision to suspend the project and warned of legal consequences.
Lu Qizhou, general manager for China Power Investment Corp, told the China News Service that the suspension of the Myitsone dam, Myanmar's largest hydropower project, would cause "immeasurable losses" for both sides.
"If the suspension means stopping construction, it will cause a series of legal problems," Lu said, adding that large compensation claims could be made, and Chinese banks might stop providing loans to the project.
Lu said he hoped that, with "persistent efforts," the project would be resumed.
Myanmar President Thein Sein told parliament last Friday that his government decided to shelve the project until his five-year term is completed in April, 2016.
Myanmar proposed the dam in 2006 and signed a contract with China in 2009 for Myanmar's state-owned Asia World Company and China Power Investment Corp to build it.
China's Foreign Ministry said on Saturday that "relevant countries should guarantee the legal and legitimate rights of Chinese companies."
Lu chided Western environmental groups for putting pressure on the government.
"Now these organizations are intervening in the Myanmar government's economic development projects that will improve people's living," he said. "I don't know what their true purpose is. But I'd like to ask, have these organizations tried to help Myanmar when its people were in their most difficult times?"
Lu Qizhou, general manager for China Power Investment Corp, told the China News Service that the suspension of the Myitsone dam, Myanmar's largest hydropower project, would cause "immeasurable losses" for both sides.
"If the suspension means stopping construction, it will cause a series of legal problems," Lu said, adding that large compensation claims could be made, and Chinese banks might stop providing loans to the project.
Lu said he hoped that, with "persistent efforts," the project would be resumed.
Myanmar President Thein Sein told parliament last Friday that his government decided to shelve the project until his five-year term is completed in April, 2016.
Myanmar proposed the dam in 2006 and signed a contract with China in 2009 for Myanmar's state-owned Asia World Company and China Power Investment Corp to build it.
China's Foreign Ministry said on Saturday that "relevant countries should guarantee the legal and legitimate rights of Chinese companies."
Lu chided Western environmental groups for putting pressure on the government.
"Now these organizations are intervening in the Myanmar government's economic development projects that will improve people's living," he said. "I don't know what their true purpose is. But I'd like to ask, have these organizations tried to help Myanmar when its people were in their most difficult times?"
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