China to spend $3B on cleantech pilot projects
Release Date: 2009-03-30
Government plans to choose 60 projects to reduce emissions and improve energy efficiency in highly polluting industries.
China's Ministry of Science and Technology said today it plans to invest RMB 10 billion to RMB 20 billion ($1.5 billion to $3 billion) on cleantech demonstration projects across the country.
The ministry plans to narrow the list of 1,200 candidates to 60 that best reduce emissions and energy use. Three of the projects are already being implemented.
The projects are expected to span some of the top polluting industries in China: petrochemicals; iron and steel; building materials; textiles; equipment manufacturing; automobiles; shipbuilding; and power generation.
The 60 demonstration projects are expected to create an economic boost of RMB 113 billion ($16.5 billion) while reducing coal use by 8 million tons and water use by 290 million tons.
The ministry forecast a cut in carbon dioxide emissions by 36 million tons and toxic gases by 370,000 tons.
The projects are expected to prove the effectiveness of new technologies in order to deploy them across the country. Then, the technologies are expected to cut coal use by 170 million tons and water by 2.3 billion tons, while reducing CO2 by 600 million tons and toxic gases by 20 million tons.
The government in China has committed significant funding for cleantech projects already.
The Beijing government plans to spend RMB 13 billion ($1.9 billion) on wastewater treatment and solar power projects in rural areas in the next three years.
A little less than 10 percent of China's RMB 4 trillion ($585 billion) stimulus package for 2009 is dedicated to ecological projects, including those dedicated to recycling, purifying or desalination water.
Source:Cleantech
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