PetroChina to build storage tanks in Xinjiang

PetroChina Co. plans to build commercial crude storage tanks with a capacity of one million tons at the Shanshan Chemical Zone, in northwest China’s Xinjiang Uygur Autonomous Region. The project is scheduled to start construction in August and be ready for operation in 2008. PetroChina will invest CNY879 million (US$116 million) in the project, which will consist of a large storage tank and supporting facilities such as pipelines, communications and automatic security. (August 8, 2007)