Int'l Bids Sought for Public Utility in Shanghai's Pudong

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Last updated at: (Beijing Time) Friday, January 03, 2003

Int'l Bids Sought for Public Utility in Shanghai's Pudong

Shanghai's Pudong New District is selling a power plant through public bidding, indicating local government's speed in opening up the public utilities sector to private investment.

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Shanghai's Pudong New District is selling a power plant through public bidding, indicating local government's speed in opening up the public utilities sector to private investment.

The Yuqiao Domestic Wastes Power Plant, the first of its kind on the Chinese mainland, can dispose of 1,000 tons of waste materials every day and generate 350,000 kilowatt-hours of electricity.

Costing 670 million yuan (about 80.7 million US dollars), the plant has operated for only half a year and is a world leader in both production technologies and equipment.

Head of the district management committee Hu Wei said the sale explored a new way that could help local government better utilize social capital, slash management costs and follow international practices.

He said investors from both China and abroad were welcome, especially those experienced in the environmental protection sector.

Hu said the district would move to attract more investment in building highway networks, urban greening, revitalizing state assets and renovating old downtown areas in the future.

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