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Another 380,000 Cubic Meters of Oil Storage Tanks Built in the Aoshan Terminal

Date:2003-12-19 Source:Sinochem Group
On November 28, the 380,000 cubic meters of oil storage tanks project in Aoshan Terminal, Sinochem Xingyuan Oil Staging (Zhoushan) Co., Ltd. passed inspection. After 14 years of continuous construction, the oil storage tanks with a holding capacity of 1.58 million cubic meters can be put into operation, which raised the annual handling capacity of the Terminal to more than 25 million tons, maintaining the position as the largest oil staging base in China.

As the third-phase project of Aoshan Terminal, Sinochem Xingyuan project started construction in June 2001. The whole project is composed of 4 tanks with a holding capacity of 55,000 cubic meters respectively, 1 tank with a holding capacity of 100,000 cubic meters, 2 tanks with a holding capacity of 30,000 cubic meters respectively and other supporting facilities.

The inspectors, including government officials and experts conducted field visit and tests, saying that the fire fighting, environmental protection, techniques and electric facilities have all been up to the national oil storage tank standards.

State-owned Assets Supervision and Administration Commission Gives Positive Evaluation on the Performance of Sinochem

To strengthen supervision on state-owned assets, get informed of the performance of state-owned enterprises and improve the performance evaluation methods of the enterprises, in August the State-owned Assets Supervision and Administration Commission conducted performance evaluation pilots in 14 state-owned enterprises including Sinochem. At the beginning of October Sinochem received the feedback from the Commission: Sinochem got scores of 80.1.

This performance evaluation year last from January 1, 2002 to December 31, 2002. The 14 enterprises participating in the pilots have sound financial management and their reservation and increase of state-owned assets in 2002 have been certified.

To fulfill this performance evaluation, under the supervision of the State-owned Assets Supervision and Administration Commission, the intermediary organization and Sinochem jointly conducted questionnaire. The result shows that the employees of Sinochem recognize the management and leadership of the company.

The written feedback of the State-owned Assets Supervision and Administration Commission shows that Sinochem got 85.7 in terms of evaluation index, 88.3 in terms of basic index and 78.7 in terms of amended index.