State Grid to spend over 500 billion on infrastructure

State Grid Corporation of China announced that it would expand its investment in projects under construction expected to exceed one trillion yuan this year.

From January to July, State Grid completed grid investments of 236billion yuan (US$35 billion). Projects under construction have cost 880 billion yuan. The corporation expects to invest another 300 billion yuan. Total investment in projects under construction is set to hit 1.3 trillion yuan.

State Grid has built 29 UHV power transmission projects, with capacity exceeding 240 million kilowatts.

State Grid was established in December 2002, with investment, construction and operation of power grids as its core business. Its business area covers 26 provinces and the power supply area accounts for 88 percent of China’s land area while the power supply population exceeds 1.1 billion.