China Private Firm Engages in Crude Oil Project

Guangsha Group started the construction of its Huangzeshan Crude Oil Transportation and Storage Project in the Zhoushan Islands in eastern China’s Zhejiang province in December.

This is the first time for a private enterprise in China to carry out crude oil transportation and storage project.

The Huangzeshan project will include a 300,000-ton-class berth for crude oil transfer, an 80,000-ton-class berth for petroleum products transfer, two 10,000-ton-class berths for petroleum products transfer, crude oil storage tanks with a combined capacity of 1 million cubic meters, petroleum products storage tanks with a combined capacity of 510,000 cubic meters and supporting facilities.

According to preliminary estimation, the project will cost about 12 billion yuan. The Huangzeshan Island where the project is located is under the jurisdiction of Daishan county of Zhoushan city, and has a land area of more than 2.5 square kilometers with a coastline of over 15.7 kilometers.

The island is located at the Yangtze estuary. With smooth and deep waterways, the Huangzeshan Island is a good place for developing crude oil transportation and storage.