66. The Catastrophic Collapse of the Banqiao Dam
Year: 1975
Location: Zhumadian, Henan, China
Company: The Chinese Government, the Soviet Union
Estimated Damage Value: $54.12 million*
In 1975, the Banqiao Dam in Zhumadian, Henan, China, collapsed, impacting over 10 million people and three million acres across thirty cities. Initiated by Chinese government and Soviet efforts, this disaster led to a cascade of 62 dam failures, costing around $54.12 million.
The disaster stemmed from a fatal design flaw, focusing solely on water retention and neglecting flood prevention. Initially reported fatalities by the Chinese government were grossly underestimated at 26,000, with actual numbers ranging from 85,600 to 240,000, revealing the tragedy’s true scale.