€650 million Chinese hydroelectric project gets go ahead.

Tipperary county have received good news last week, as plans for a Chinese run hydroelectric project has been signed off on.

The project is set to be located on a former mining site in Silvermines, Tipperary and will cost upwards on €650million. The deal was signed with China last week and will see the site produce and store renewable electricity.

It is said that this will bring up to 400 jobs to the local area and economy.

The company, Power China, have been planning the project for the past couple of years and the contract was signed last week.

The project, which is still in the planning phase of the process, is expected to take over two years to complete.

It is the largest investment ever made in a project in the country.