Shanghai’s first fuel store to cost $71 mln

BEIJING, Dec. 31 — Shanghai’s first emergency fuel storage facility will cost 520 million yuan (71.2 million U.S. dollars) to build, nearly double the original budget, the Shanghai Chemical Industry Park said at the weekend.

A foundation-laying ceremony was held on Saturday at the chemical park, about 50 kilometers southwest of the city proper. Construction will start soon and the facility will be operational by early 2009.


The project, to be built by the Bailian Group, will include 18 oil tanks with a combined storage capacity of 200,000 cubic meters. Some 30,000 tons of refined oil products, mainly diesel, will be stored, the equivalent of five to seven days of Shanghai’s needs, ready to be used in the event of any disruption of supplies.

Shanghai’s daily diesel consumption is estimated at 6,700 tons this season, according to Sinopec.

Xinhua