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The Guangzhou Nansha Development Zone signed an agreement on strategic cooperation with the Petrochina International Co., Ltd on June 22nd.
According to the agreement, an oil depot of 765 thousand cubic meters and an 80-thousand-ton oil wharf will be built on Xiaolu Island of Huang'ge, by the end of this year.
The agreement covers projects concerned with construction of an oil depot and wharf, oil trade, construction of a petroleum logistics and delivery center and oil filling facility for international ships and more.
Petrochina International Co., Ltd plans to explore the South China market by operating the oil depot and wharf while the Nansha Development Zone permits construction of the oil depot and wharf on condition that no threat will be posed to safety, capacity and/or environment. Additionally, the Nansha Development Zone will offer its support to Petrochina International Co., Ltd on issues concerning appraisals, safety assessments, environmental assessments, applications and other points and it will ensure supply of water, gas and electricity for the project which is expected to be completed by the end of this year.
Petrochina International Co., Ltd promised to set up a subsidiary at Nansha which is expected to be licensed to import and export crude or refined oil products, promoting oil trade by making full use of the oil depot.
(Translated by Guangzhou Association of Foreign Affairs Translators)
Editor: 寮犺幑
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