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TEDA nets local firm for logistics base
Published on: 2010-07-12
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Jul. 12, 2010 (China Knowledge) - Tianjin Economic-Technological Development Area or TEDA on Jul. 8 signed a cooperative agreement with a local petrochemical firm to build a large logistics base in Tianjin Nangang Industrial Zone.

The 713,000-square meter base, which will cost RMB 4.3 billion, is expected to annually reap operating revenue of RMB 1.05 billion from warehousing business and of RMB 8 billion from petrochemical product transportation business.

In the initial stage of the base, storage capacity totaling 830,000 cubic meters will be completed in December 2012 and will have an investment totaling RMB 2.14 billion. These warehouses are designed to store petroleum, diesel, naphtha and crude oil.

At present, the Tianjin Nangang Industrial Zone has six petrochemical projects under construction. Tianjin Teda Co Ltd, PetroChina Co Ltd and Sinopec are among the investor list of the six projects that will cost a total of RMB 5.5 billion.

In addition, the industrial zone has inked RMB 8.6 billion worth of agreements on 13 projects and is negotiating with many potential partners on 18 projects with over RMB 200 billion worth of value, sources reported.
 

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