Guangzhou Devt. start 2nd phase of Nansha oil depot

Guangzhou Development Industry (Holdings) Co. Ltd., a Shanghai-listed company mainly engaged in power generation and oil and gas supply, announced that its subsidiary will inject 447 million yuan (US$66.98 million)  into constructing the second phase of an oil depot in Guangzhou City’s Nansha District. The second phase of the project will include 43 oil tanks with a total capacity of 311,500 cubic meters. It will be used to store gasoline, diesel, solvent oil and fuel oil. The first phase of the Nansha oil depot, which was put into operation in 2003, is the biggest distribution center for methyl alcohol and the main center for oil and chemical projects in the Pearl River Delta. (October 14, 2010)