May 9, 2022 [Manifold Times] – Sinochem Xingzhong on Wednesday (27 April) said its sixth phase expansion project involving the construction of an additional 10,000 cubic metres (m3) of tank storage facilities for bunker fuel oil was successfully completed.
In order to better serve the local economy and promote business growth, in the second half of 2020, Sinochem Xingzhong decided to carry out the construction of the sixth-phase expansion project, it noted.
The total tank capacity of Sinochem Xingzhong has now reached 2.97 million m3, which will play an important role in improving the entire oil and gas industry chain in the Zhejiang Free Trade Zone.
In recent years, the Zhejiang Free Trade Zone has made every effort to promote the construction of the entire oil and gas industry chain, and the bunkering volume of bonded marine fuel oil in Zhoushan Port has continued to rise.
As such, Sinochem Xingzhong said it has seized the opportunity to actively expand its bonded bunkering business and aims to become the central provider of bonded marine fuel for international ships in East China.
The commissioning of the sixth-phase expansion project will further increase the market share of Sinochem Xingzhong, it states.
10,390 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data