China embarks on $9.3b flood and drought projects
Major overhaul of nationwide reservoirs will transform water reserves
China is to invest $9.3 billion on reinforcing 40,000 small reservoirs throughout the country as it attempts to alleviate ongoing flood and drought risks.
According to a report carried by the China Daily, 15,900 reservoirs with a capacity of more than 200,000m3 will be consolidated by the end of 2013 at an estimated cost of $5.7 billion. The remaining 25,000 reservoirs will be fixed by 2015 with funding coming from local government authorities.
According to the newspaper, the spending plan is considered part of the country's efforts to reinforce water conservation initiatives and combat natural disasters, such as floods and droughts.
In a statement issued by the government, authorities said that since 2008, maintenance work on all the 7,356 medium-sized and large reservoirs and key small reservoirs has been carried out. That work was finished by the end of 2010 and cost at least 70 billion yuan ($11 billion), the statement said.