It is learned from public sources that Shandong plans to boost its port capabilities by building new storage tanks for crude oil and liquid chemicals with a capacity of 2.6 million cubic meters and 132,000 cubic meters respectively, as well as other facilities like pipelines, berths, etc. for a combined investment of over RMB 10 million through 2024.
The new projects relating to oil products include the Phase III commercial crude storage tank project with a storage capacity of 2.6 million cubic meters, and Phase II liquid chemicals storage tank project with a capacity of 132,000 cubic meters at Dongjiakou Port in Qingdao City; as well as a 150,000-tonne oil berth and the Phase II crude tank field project in the west part of Yantai Port.
Source: Public sources
The new projects aim at improving the ports' crude storage and logistics system in Shandong Province to better facilitate commodities delivery, crude blending, and international transportation, as well as to ensure the raw material supply for the refining industry in China.
Written by Aggie Hu, huchenying@mysteel.com
Edited by Navy Liu, liuchuanjun@mysteel.com