Oil refining project expected to start construction in Yangpu at end of 2012
A one million-ton oil refining project is expected to start construction in Yangpu Economic Development Zone in Hainan at the end of 2012.
Planned construction period of the oil refining project is 3 to 5 years. Currently, the refinery in the region has an annual output of 8 million tons, with an industrial output value of 57.2 billion yuan in 2011.
With new projects being put into operation, Yangpu will serve as a hinge port for international shipping and logistics, becoming a base for petrochemicals, natural gas, oil reserves, and pulp paper.
Early preparation work has been completed and construction would begin immediately after examination and approval procedures.