HONG KONG -- State-owned Shanghai Electric Group has disclosed losses of more than $650 million due to cost overruns incurred in building a landmark solar power station in Dubai personally championed by President Xi Jinping as part of his Belt and Road Initiative.
Belt and Road
Shanghai Electric loses $650m on showcase Belt & Road project
State company cites 'inexperience' in overruns on Dubai solar power station
Dubai's Mohammed bin Rashid Al Maktoum Solar Park is described as the largest single-site concentrated solar power plant in the world. © Reuters
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