Oil Storage and Terminal Facility on Changxing Island
The Company's oil storage and terminal facility in Dalian is located in the newly established Petrochemical Industry Base on Changxing Island. The Industry Base is the core areas of China's petrochemical industry restructuration and one of the key petrochemical industry bases on which the government will focus. Leveraging the advantages of its industry base, Brightoil's storage and terminal facility, which is the major logistic facility at the base, is emerging as a center for trading, storing and transferring oil products such as crude oil and fuel oil in the Bohai Bay region and even in Northeast Asia. Construction of the oil storage facility in Dalian, with a total capacity of 7.19 million cubic meters, is expected to be completed in two phases. The estimated capacity of Phase 1 and 2 will reach up to 3.51 million cubic meters and 3.68 million cubic meters, respectively. The terminal facility will be equipped with 13 berths to accommodate vessels from 1,000 to 300,000 DWT.