To ensure stable oil supply to HK and to explore Southeast Asia markets, Sinopec (HK) Yangpu Bonded Oil Terminal started construction Wednesday at Hainan Yangpu Economic Development Zone.
Hainan Provincial Party Secretary Wei Liu Cheng, Governor Luo Bao Ming, Vice Governor Li Guo Liang, President of Sinopec Corp., Wang Tian Pu attended the ceremony. 
The project occupies 1,430 mu land for the construction of totally 3.71 million m3 tank capacity. Phase I investment is about 4 billion RMB and will construct 2.05 million m3 oil tanks, 4 oil jetties and supporting facilities. 
The project is scheduled to be completed in the 2nd half of 2012. When becoming operational, the annual turnover shall be 15 million tons and jetty throughput 27 million tons. 
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