China plans to input 61.6 billion yuan (US$7.7b) into power grid construction and renovation in east China's Shandong province in the 2006-2010 period.
The State Power Grid Development Company announced Thursday that it has signed an agreement for the investment with the Shandong provincial government in Beijing on Thursday.
According to the State Power Grid Development Company, the large investment will be mainly used for expanding the province's backbone 500-kilovolt power grid which will cover all cities in the province.
The company said the power grid expanding strategy for Shandong province, a major economic powerhouse of China, will help ease the province's heavy burden in electricity demand and inject energy for the province's rapid economic development in the future.
(Xinhua News Agency March 24, 2006)
