Fujian Titan Petrochemical Storage Development plans to put a 340,000-cu-m oil storage into operation in Quanzhou of southeastern China’s Fujian Province in August, with construction work complete at present, a company source told C1.
"With all facilities ready to serve, Quanzhou oil terminal will become operational in the first half of August when a 100,000-mt cargo will arrive in Quanzhou port", said the source.
"All tanks of the terminal are for rental purposes. We will also apply for the permits to store bonded oil and fuel oil futures for the Shanghai Futures Exchange", added the source.
The Quanzhou terminal comprises of 160,000-cu-m fuel oil tanks and 180,000-cu-m distillate tanks, afflicted by a 100,000-DWT petrochemical jetty, the source introduced.
Fujian Titan Petrochemical Storage Development brought on stream a 90,000-cu-m chemical terminal and two supportive jetties in Quanzhou in April 2007.
Fujian Titan Petrochemical Storage Development is a wholly-owned subsidiary of Titan Petrochemicals.
