The Industrial and Commercial Bank of China (ICBC) is to lend the equivalent of US$417M to the Guodian Dadu River Water Resource Exploration Corporation to finance the construction of the Pubugou hydroelectric power plant on the Dadu river, according to the Xinhua news agency.

Construction of the plant started in March this year; it is expected to become operational in 2008.

The plant will generate 14.6TWh of electricity each year.