On Oct 22, the CNPC’s Yangtze Project construction was inaugurated in Jiangsu province, which will involve a total investment of Rmb20.00 billion. CNPC general manager and secretary Jiang Jieming, Vice Governor of Jiangsu province Zhao Kezhi, Secretary Fan Yanqing and Mayor Wang Weichent of city Changzhou, as well as other leaders from Changzhou, Zhenjiang and Changzhou National Hi-Tech District, including Yu Zhiping, Dai Yuan, Yang Pingping, Sun Jianrong, Liu Jianming, Lu Min, Tang Jianlong, Li Xining, Cao Jianxin, Chen Weibing, Hu Xiufang, Jiang Xueqin and etc. attended the foundation stone laying ceremony.
The CNPC’s Yangtze Project, of which the facilities is to across city Changzhou and Zhenjiang, will build up “two centers and one base”: petroleum products distribution center, chemical products distribution center and chemical raw materials production base. The project includes the construction of petroleum products and chemical products storage zone, jetties & logistics center, fuel ethanol plant, ethanol gasoline mixing center, chemical raw materials production base and petroleum products pipeline network of 1000 km in length. The Rmb 20.00 billion direct investment of this project is to be accompanied by another Rmb 30.00 billion by local governments. The two centers are scheduled to be put into operation before the end of 2011, and the project of aromatic hydrocarbon, ethanol gasoline and polycarbonate facilities is expectedly to be put into operation before the end of 2015.
This project is the achievement of cooperation between CNPC and Jiangsu province. The two parties bring their complementary advantages into full play with the win-win results. The project is also in compliance with the strategy of consolidating the pace setting status of China Eastern Areas. With the completion of this project, the petroleum products and chemicals logistics center will realize the coverage in Jiangsu province and China eastern areas. It is of great significance to upgrade supplying capacities of energy and petrochemical products in the Yangtze River Delta. |
