BEIJING, Chinese leaders are pushing forward with a colossal 1.2 trillion yuan (US$167 billion) hydropower dam in Tibet, prioritizing economic stimulus and clean energy gains over potential environmental and geopolitical risks.
A bend of the Yarlung Tsangpo River in Metuo county, Tibet on Sept
Chinese Premier Li Qiang officially kicked off construction of the dam along the lower reaches of the Yarlung Tsangpo River on Saturday, according to state media outlet Xinhua. The government also announced the establishment of China Yajiang Group, a newly formed company tasked with overseeing the massive project.
Although many project details remain undisclosed, the dam’s projected cost—over four times that of the Three Gorges Dam—underscores its unprecedented scale. It is expected to inject significant momentum into sectors like construction, cement, and steel, while serving as a substantial addition to China’s clean energy arsenal as it targets net-zero emissions by 2060.
Shares of Power Construction Corp of China and China Energy Engineering Corp surged by the 10% daily trading limit in Shanghai following the announcement.
