The Property Co. of the People’s Insurance Company of China has issued an insurance policy for the construction of the spillway for the Three Gorges power project. The policy was issued to the China Yangtze Three Gorges Project Development Corp, at the site of the dam.
Under the terms of the policy, claimed to be the largest for a hydropower scheme in China, the insurance company will pay compensation in the event of losses resulting from natural disasters and accidents during the construction period. The company has now insured 134 elements of the Three Gorges project.
Construction of Three Gorges began in 1993 and is due to be completed in 2009.
