MARKET DEVELOPMENT
China's Largest Oil & Grain Storage Under Construction
China's Largest Oil & Grain Storage Under Construction
9/5/07 (SinoCast) HEBEI-- China's largest oil & grain storage, which is under construction in Hebei, a neighbouring province of the country's capital Beijing, is expected to be completed next year.
The project, covering an area of 443.6 mu (1 mu = 667 square meters) and attracting a total investment of CNY 620 million, contains two parts, the trade and logistics area and the information service area.
In the trade and logistics area, rice, corn and soybean from Northeast China will be sold to Beijing, Tianjin and other key Chinese cities, while wheat from central China's Henan province will be sold to Beijing and Northeast China. In the information service area, people can enjoy services such as spot transaction, the latest price information and distribution.
Upon completion, the storage will be able to store 1 million tons of grain and oil and handle 8.83 million tons annually. With the throughput capacity expected to hit 12 million tons in future, the storage will achieve trade value of CNY 11.8 billion every year.
The project, covering an area of 443.6 mu (1 mu = 667 square meters) and attracting a total investment of CNY 620 million, contains two parts, the trade and logistics area and the information service area.
In the trade and logistics area, rice, corn and soybean from Northeast China will be sold to Beijing, Tianjin and other key Chinese cities, while wheat from central China's Henan province will be sold to Beijing and Northeast China. In the information service area, people can enjoy services such as spot transaction, the latest price information and distribution.
Upon completion, the storage will be able to store 1 million tons of grain and oil and handle 8.83 million tons annually. With the throughput capacity expected to hit 12 million tons in future, the storage will achieve trade value of CNY 11.8 billion every year.