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Sinopec to build 100 more filling stations in Nanning at 2bln yuan

BEIJING, Sep 27, 2009 (Xinhua via COMTEX) --

Company: China Petroleum & Chemical Corp. (SNP)

China Petroleum and Chemical Corp. (Sinopec) (NYSE.SNP) had signed a framework agreement on strategic cooperation with Nanning Government in investing a total of 2 billion yuan in Nanning, capital of Guangxi Zhuang Autonomous Region, southwest of China.

According to the agreement, Sinopec will use the money to build additional 100 oil stations in Nanning and construct Nanning-Baised oil pipeline.

Meanwhile, Sinopec will expand Tunli oil depot, a supportive project to CNPC Qinzhou oil refinery in the next three years.

The construction will help further optimize the city's oil product sales network, upgrade oil infrastructure, and promote the development of the city's economy.

Copyright (C) 2009 Xinhua Economic News. All rights reserved

News Provided by COMTEX

Company: China Petroleum & Chemical Corp. (SNP)


Related terms: china, economy, government, nyse, oil, pipeline, refinery, yuan

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