Posts tagged ‘graft’

26/03/2014

China’s Three Gorges replaces top executives amid graft probe | Reuters

China’s Three Gorges Corp, which built the world’s biggest hydropower scheme, has replaced its chairman and general manager, the company said, in the latest major reshuffle of a state-owned firm as the government steps up a fight on graft.

China's Three Gorges power company CEO Cao Guangjing makes his statement before the deal signing with Energia de Portugal in Lisbon December 30, 2011. REUTERS/Jose Manuel Ribeiro

Some officials of Three Gorges, set up in 1993 to run the hydropower scheme, were guilty of nepotism, shady property deals and dodgy bidding procedures, the ruling Communist Party’s anti-graft watchdog found in February.

The scandal has reignited public anger over the $59-billion dam, which was funded by a special levy paid by all citizens.

Chairman Cao Guangjing has been removed from his position and would be assigned another job, the company said in a statement on Tuesday. It named Cao’s replacement as Lu Chun, but gave no further details.

via China’s Three Gorges replaces top executives amid graft probe | Reuters.

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