NYINGCHI, Xizang, July 19 -- Chinese Premier Li Qiang announced Saturday the start of the construction of a hydropower project in the lower reaches of the Yarlung Zangbo River.

Li, also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the announcement while attending a groundbreaking ceremony in Nyingchi City, southwest China's Xizang Autonomous Region.

The groundbreaking ceremony took place at the dam site of Nyingchi's Mainling hydropower station. Representatives from various organizations, including the National Development and Reform Commission and the Power Construction Corporation of China, spoke at the ceremony.

The ceremony was also attended by members of an expert advisory committee for the construction of the hydropower project, as well as representatives of local residents.

The project will consist of five cascade hydropower stations, with a total investment estimated at around 1.2 trillion yuan (about 167.8 billion U.S. dollars).

The project will primarily deliver electricity for external consumption while also addressing local demand in Xizang.

A ceremony has recently been held in Beijing to inaugurate the China Yajiang Group Co., Ltd. for the smooth construction and operation of the hydropower project. Vice Premier Zhang Guoqing, also a member of the Political Bureau of the CPC Central Committee, attended the inauguration ceremony.