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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (21807)	1/20/2005 12:35:11 AM
From: RealMuLan	Respond to of 116555

Mish, my take: reason #1, China indeed anticipates there will be oversupply of power in late 2006, and these projects, even if the construction started now, they won't be finished until then; Reason #2: environmental reason does play a major role here. one of the biggest halted dam is indeed located in one of the 30 China's World heritage sites. I am so glad they finally stopped this project, it is a mankind treasure which should never be taken away. Here are a couple of pictures: Here are a couple of pictures where the halted dams located, and it is one of the most beautiful scenic spots in the world. southcn.com southcn.com southcn.com Reason #3: a coupld of countries down stream, like Thailand, Myanmar, maybe Vietnam too, complain about the project a lot (read the BBC news below); No, as of now, things in China have not cooling off rapidly yet<g>. Maybe in the later half of the year. It takes time for China to slow things down, you know<g>. It is too big and have way too many people ===================================== Here has some details on the capacity of the 1st 15 halted power projects interfax.com =============================================== Here are some related news. Foreign firms quit power sector www.chinaview.cn 2005-01-20 08:33:57 Xie Ye BEIJING, Jan. 20 (Xinhuanet) -- It sounds like a contradiction in terms, but most Western investors are upping sticks and quitting China's power generating market, despite its annual expansion of 15 per cent, one of the fastest growth rates in the world. A number of big names, including leading US electricity generators American Electric Power and Mirant, have already left, and some others a beating a retreat. Late last month, German engineering conglomerate Siemens and Hew, a unit of Swedish electricity firm Vattenfall, sold a combined 40 per cent stake in a power plant in Hebei Province to China's Huaneng Group for US$168 million. The deal means Siemens only has a single equity investment in the mainland, a 12.5 per cent stake in a power plant in Rizhao, in East China's Shandong Province. Siemens justified its departure from power generating on the grounds that it has never been one of the firm's core businesses. The company said it remains committed to China and will expand its core business of providing power equipment to local customers. But the incident only serves to highlighting the general trend of foreign firms getting out of the market. Foreign investment in China's electricity generating market fell from 14.5 per cent in 1997 to 7.5 per cent in 2002, according to Hu Zhaoguang, a veteran expert from the Beijing Economic Research Institute of Electric Power. According to analysts, the foreign firms withdrew after the Chinese market failed to match their expectations. news.xinhuanet.com KEPCO to Build China Power Plant Korea Electric Power Corp. (KEPCO), South Korea's state-run power company, won an order on Monday to build a power plant in central China, greatly boosting its presence in the world's most populous country. The deal, concluded in Beijing earlier in the day with thegovernment of Henan Province, involves KEPCO's investing in andconstructing two 600-megawatt coal-fired electricity generators in Jiaozhou city, the company said. KEPCO won the order two months after it was awarded a contract to build two 50-megawatt electricity generators for a co-generation power plant in the city. times.hankooki.com "That move reportedly followed a protest from the Thai government about the downstream impact of the dams, and a critical documentary made by Chinese journalists. " news.bbc.co.uk I made some comment on foreign firms withdrew here Message 20961195