February 16, 2011 [C1 Energy] - CITIC Port Investment is scheduled to start construction of 713,000 m3 oil terminal in Ningbo City of East China's Zhejiang Province in the third quarter of 2011, expected to become operational in about one year, a company source told C1.
The terminal will comprise 600,000 m3 crude and fuel oil tanks and 113,000 m3 gasoline and gasoil tanks, the source introduced.
Site of the terminal is close to PetroChina Fuel Oil’s fuel oil terminal in Daxie Island, said the source.
CITIC Port Investment also plans to construct three affiliated jetties with capacity of 200,000DWT, 50,000DWT and 5,000DWT, respectively.
“We have got environmental assessment passed and also received approval from the National Development & Reform Commission,” said the source; added, the company may cooperate with Sinopec and PetroChina with the terminal on stream.
CITIC Port Investment is a joint-venture between the CITIC East China (Group) and the CITIC Daxie Development.
