Beijing: Tianjin will build a 200,000 cu m oil storage plant by 2015, taking the number of such large-scale plants to four in this sprawling northeastern port city.
The new storage facility, by the joint venture Shell Oil Group of North China, will be built in the Binhai New Zone in two phases. The first one will be put into operation in 2013, with 55,000 cu m of oil storage tanks and supporting facilities, while the second phase will kick off in 2014 and be completed in 2015.
The storage plant, with a total investment of RMB550m ($87m), is expected to handle 3m tonnes of oil products.
Three large oil storage plants have already been built in Tianjin, all undertaken by domestic oil companies.