China: Shell Will Build Storage Facility in Tianjin
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Wednesday, 11 January 2012 |
Shell’s Chinese joint venture subsidiary will build a new storage and transportation facility in China’s Tianjin, according to local authorities. Shell North China Petroleum Group has confirmed with the Nangang Industry Zone in the port city that it will build a facility capable of holding 200,000 cubic meters of oil.
The facility, which will expand the global energy firm’s reach in China, will begin construction in June 2012, with a projected finishing date of June 2013. At peak, the 550m yuan project is expected to yield annual sales revenues of 26bn yuan.
Shell North China Petroleum Group, a joint venture with the Tianjin State Farms Agribusiness Group, was established in 1997.
PetrolWorld 11012012
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