Sinopec is to start construction of a 660km pipeline that will pump imported crude oil from Ningbo in Zhejiang province to Shanghai and Nanjing. The pipeline will cost Yn4bn to construct and will have an eventual capacity of 10m tonnes a year. Customers will include Sinopec subsidiaries and its joint venture petrochemical plants with BP in Shanghai and BASF in Nanjing. Company chairman Li Yizhong said the pipeline could save more than Yn700m a year, compared with transporting oil by tanker.
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