New Oil Depot Opens in Shanghai
Bailian Oil Depot officially opened last Friday in Shanghai Chemical Industry Park. Shanghai Fuel Co Ltd, a wholly-owned subsidiary of Shanghai Material Trading, spent RMB 600 million to set up the oil depot.
The depot covers 212 Mu in SCIP and has a designed tank capacity of around 200,000 cubic meters. It is estimated that the oil depot will have an annual throughput between 3 million and 4 million cubic meters. Moreover, an emergency product oil reserve will be built to house 30,000 tons of diesel oil.
Shanghai Material Trading expects that the new depot will help it become a more modernized petrochemical logistics company.
(Source) China Knowledge
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