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Capital injection for Sichuan power grid 'not enough'
By Diao Ying and Si Tingting (chinadaily.com.cn)
Updated: 2009-03-03 16:34 The multibillion-yuan government capital injection for the power grid in Sichuan province is not enough to cover huge losses caused by a string of natural disasters in the first half of 2008, said Zhu Changlin, who manages the State Grid's operation in Sichuan.
"The compensation is far from enough to cover that loss," Zhu said on the sidelines of the annual sessions of the Chinese People's Political Consultative Conference (CPPCC). According to the China Electricity Council, the 2008 snowstorm and earthquake resulted in a total loss of 22.5 billion yuan for the State Grid. The Sichuan Grid alone suffered losses of 600 million yuan and 10 billion yuan from the snowstorm and earthquake respectively, Zhu said. (For more biz stories, please visit Industries)
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