Jinzhou Port signs shale oil agreement

Jinzhou Port signs shale oil agreement

Jinzhou Port has signed a framework of agreement with Cyprus-registered Pu Dara Group, for the development of a RMB1.2bn ($189m) shale oil project.

Under the agreement, Pu Dara Group will ship shale oil from Indonesia to Jinzhou. It will establish a wholly owned subsidiary to produce oil products in Jinzhou, while Jinzhou Port will invest in the project upon completion of phase one at the end of 2017. Operations will start in June 2018.

The project is expected to produce 6m tons of oil products annually.

Liu Jun, president of Jinzhou Port, said the project is critical for the port to transform from a traditional grain and coal port to a multi-functional port.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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