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The Construction of Zhanjiang Base Project of China National Aviation Fuel Group Limited (“CNAF”) Southern Storage and Transportation Company Limited (“SSTC”) is Advancing at an Accelerating Pace

2024.03.28

In December 2020, CNAF Logistics Co., Ltd and Fortune Tianyuan Petrochemical Co., Ltd jointly established a joint venture – CNAF SSTC to undertake the construction and operation management of Zhanjiang Base Project. The project with a total investment of nearly RMB 1.5 billion, is located in Lingang Industrial Park, Xiashan District, Zhanjiang City, covering an area of 256,000 square meters. The project planning is divided into two parts, i.e. crude oil tank area and refined oil and chemical tank area.

The Zhanjiang Base Project aims to rely on the industrial background of both shareholders, fully utilizing the company’s advantages in crude oil, refined oil (gasoline, diesel), aviation kerosene, chemical product transit storage and transportation, bonded, export supervision, futures delivery and other services, to provide modern petroleum and petrochemical product storage and logistics services for customers in South China and Southwest hinterland.

The construction of the Zhanjiang Base Project has been highly valued and strongly supported by both shareholders and governments at all levels. Since the official start of construction on December 29, 2021, under the leadership of the outstanding management team of SSTC, and with the hard work of all employees, the Zhanjiang Base Project has always maintained a high quality and efficient acceleration trend and has made encouraging breakthroughs in many important phases of project approval and construction.

On September 17, 2023, Zhanjiang Base Project’s No. 301 tank group, No. 312 tank group, No. 401 tank group foundation and pile foundation project officially started. In order to fully promote project construction with high speed and high efficiency, and boost employee morale, SSTC launched the labor competition activity of "100 days of great work" and held 2023 year-end working conference and oath-taking ceremony for completing project interim delivery on May 20. Two Fortune Oil representatives to SSTC, Mr. Gao Yimin, SSTC Chairman and Mr. Zheng Changman, SSTC GM, presented awards to the winners of the labor competition and the outstanding employees of the Year 2023 respectively. Fortune Oil Limited Chief Executive Officer Mme. Li Ching also made a special trip from Hong Kong to Zhanjiang Base Project site, encouraging and cheering for the employee's hard working spirit.

At the beginning of the Year of the Dragon, SSTC launched an initiative of “Striving hard for 90 days to complete project interim delivery on May 20”to all employees and construction units, and since then, the construction work has been proceeding in an intense and orderly manner. At present, under the leadership of SSTC management team, the project construction work is steadily advancing day and night. 

Looking forward to the future, the completion of the Zhanjiang Base Project will greatly enhance the energy and chemical product storage and transportation capacity in the region, which is of great significance for ensuring the security of energy supply and promoting regional economic development. The company will continue to uphold the principle of "high starting point, high standard and high requirement", ensure project safety and high quality, create excellence in project construction, make every effort to achieve the early completion and operation of the project, so as to build a leading service enterprise in the petrochemical industry chain and become a first-class partner in the petrochemical industry.