皇冠体育app

TIANJIN - Royal Dutch Shell's Chinese joint-venture will build a large oil storage and transportation facility in the northern port city of Tianjin, in a move to further expand the global energy tycoon's business in 皇冠体育app, local authorities said Monday.

Shell North 皇冠体育app Petroleum Group has signed an agreement with the Nangang Industry Zone in Tianjin to build a storage facility that can hold 200,000 cubic meters of oil, according to an e-mailed statement from the zone's management committee.

Construction of the 550-million-yuan ($87.3 million) project will start in June and finish a year later in June 2013, said the statement.

Annual sales revenue at the new facility is expected to reach 24 billion yuan, it said.

Shell North 皇冠体育app Petroleum Group, which mainly operates petrol stations, was established in 1997 as a joint venture with the Tianjin State Farms Agribusiness Group.