Construction of oil wharf begins on Hainan Province
Shanghai. November 30. INTERFAX-CHINA - Construction has started on an oil wharf at Yangpu Port on the island province of Hainan, according to SDIC Yangpu Port Corp. a state-owned port operator and one of the project's investors.
The wharf will house six liquid-cargo handling berths (oil piers) for 30,000-, 50,000- and 100,000-ton tankers and five million cubic meters of oil tankage, a representative from SDIC Yangpu told Interfax. The project will cost approximately RMB 7 billion ($1.10 billion) and is expected to become operational during the fourth quarter (Q4) of 2013, the source said.
SDIC Yangpu will jointly invest in the wharf along side Dutch oil storage manufacturer Royal Vopak. Royal Vopak was not available for comment on Nov. 30.
The Yangpu oil wharf will serve as a storage and distribution center for the country's oil refiners as well as those in Southeast Asia, the Hainan provincial government said on its website Nov. 30.
-WV