Sinopec Taishan Petroleum to Buy Assets

It is reported that Sinopec Shandong Taishan Petroleum announced it intends to spend CNY 60 million to purchase two gas stations and one building in Jinan, Shandong province.

The building has an area of 5,008 square meters and will be purchased from ShanDong Zhongrun Property for CNY 30.45 million and will be used as office space.

Sinopec Shandong Taishan Petroleum intends to use CNY 17 million to buy a gas station in Xintai, Shandong in order to improve its refined oil retail business. The gas station has 10 filling stations.

The company will also purchase a gas station in Dongping County, Shandong for CNY 11.8 million.