September 27, 2011 [Jx Xinhua Agency] - Sinochem International (Holding) Co., Ltd. signed an agreement with Lianyungang Port Group on 26th September to build liquid chemical jetties and tank farm at Qitai Port Area of Lianyungang Port.

According to the Agreement, both parties shall bring in operation a jetty project and a tank farm project. Sinochem International shall form a joint venture with Jiansu Lianyungang Port Group – Lianyungang International Petrochemical Port Service Company; and another joint venture with Jiangsu Lianyungang Port Co., Ltd. – Lianyungang International Petrochemical Storage Co., Ltd.
The two joint ventures will carry out the construction and operation of bulk liquid jetties and liquid chemical tanks, loading/discharging of bulk liquids and supporting services, storage and bonded storage of liquid chemical products.
The jetty project will make use of about 1000m shore line at Qitai liquid chemical operation zone where are 3 liquid chemical jetties allowing ships ranging from 50 to 100,000DWT to be built.
The total investment of the project is about 600 million yuan; 550 mu (36.67 hectares) of land adjacent to No. 3 and No. 4 jetty of Qitai operation zone is committed for construction of 640,000m3 tank storage capacity.
Future investment is about RMB 2 billion yuan. The two projects have combined throughput of 5 million tons.
