LOS ANGELES, June 27 -- China's National Development and Reform Commission has approved an oil port and storage expansion project at Zhoushan port, Ningbo, in eastern China's Zhejiang province.
NDRC said Zhejiang Jianqiao Energy Development Co. Ltd. will invest 325 million yuan to build the facility, which will include a 50,000-tonne-capacity berth for oil products, a 5,000-tonne-capacity berth, and storage for 290,000 cu m.
The port currently has a throughput capacity of 4 million tonnes/year, NDRC said. However, in May the New China News Agency reported that Zhoushan port handled 2.02 million tonnes of imported crude, up 48.6% from last year. The imports were primarily from the Middle East, the news agency said.
Contact Eric Watkins at firstname.lastname@example.org.