The second phase of development of China’s Three Gorges Project has received a loan for $483.6m from the China Construction Bank. This brings total planned investment this year to $1.3bn. The second phase is from 1998-2003 and the estimated total cost of the phase is $9.7bn. From 2003, the dam will become self-financing as it starts to develop electricity. When completed in 2012, the scheme will have cost $27bn.