China's CNOOC To Expand Basuo Port In Hainan Province

28-Apr-05

SNOOC Petrochemical Co Ltd, a subsidiary of the China National Offshore Oil Corporation (CNOOC), will invest more than US$36.3 million in expansion and renovation of the Basuo Port in China's Hainan Province. SNOOC and Hainan Province will, jointly undertake the expansion of the port, with investment contribution standing at 72.5% and 27.5%, respectively. The SNOOC Petrochemical Co Ltd is expected to start constructing a 10,000-ton berth and a 5,000-ton berth for hazardous chemicals in May this year, aiming to build the port into a large modern comprehensive port in the western coast of the province in 3-5 years.