Company News

The Zhanjiang Project of China National Aviation Fuel Group Limited (“CNAF”) Southern Storage and Transportation Company Limited (“SSTC”) Officially Started Construction


At 9:30 am on 29 December 2021, with the order to start construction issued by SSTC Chairman Mr. Ye Qing, pile drivers broke ground on the Zhanjiang Base Project of CNAF SSTC. Mr. Huang Lipei, Vice President of Zhanjiang Port Group, leaders of relevant local government departments and representatives of neighboring enterprises and construction participating units witnessed this historic moment.

As a Guangdong provincial key construction project in 2021, the Zhanjiang Project of CNAF SSTC, after nearly 10 years of preparation, has started an accelerated construction and development in line with the construction boom of Guangdong-Hong Kong-Macao Greater Bay Area. For the shareholders of SSTC, this is a model example of our strong cooperation, with a mixed ownership business model, and achieving high-quality development consistent with the many years of good cooperation between the shareholders.

The project involves the construction of 797,000 cubic meters of various oil storage facilities. Phase one includes the construction of 280,000 cubic meters of crude oil and refined oil storage facilities. It will be integrated with the overall industrial layout of Zhanjiang-Maoming integrated petrochemical base, and serve the diverse demand of the local market through sea transportation, pipeline, railway and road transportation, and provide further support to Guangdong, Hainan, Guangxi and other surrounding areas.

Based on the comprehensive development plan of Guangdong coastal economic belt, Zhanjiang city, as a sub-central city of Guangdong province, plays a very important role in the supply of oil and refined products across the region. CNAF SSTC is a joint venture established by Fortune Tianyuan Petrochemical Co., Ltd and CNAF Logistics Co., Ltd in December 2020. The total investment of the Zhanjiang Base Project is RMB 1.49 billion with the first phase of the project scheduled to be completed and put into operation in mid-2023.