25 Mar 2010 08:55

Gezhouba to build hydropower plant in Philippines

Shanghai. March 25. INTERFAX-CHINA - China Gezhouba Group Corp., a large Chinese construction contractor, has signed an agreement to help build a hydropower plant in the Philippines, the company announced on March 25.

Gezhouba signed the $460 million contract with Agus 3 Hydropower Corp., a Filipino hydropower developer, according to the announcement.

Gezhouba will help the company build a hydropower plant on the Agus River in the Philippines. The plant will be built with three 80-megawatt (MW) generators, according the announcement. Gezhouba expects it will take 52 months to complete the project.

Meanwhile, Agus 3 is seeking financing from Chinese banks for the project, the announcement said.