Project Profile
Value: US$233.8 million
Location: Approximately 30 kilometres to the north of our Taiyuan facility, Shanxi Province, China
Storage capacity: 70,000 metric tons (approximately 25 million gallons) of petroleum products (plus 4 tar storage tanks of 40,000 metric tonnes)
Start-up Year: January 2010
Longwei Petroleum Investment Holding Ltd. owns and operates the Gujiao facility, a storage facility which has a storage capacity of 70,000 metric tons. Since commencing operations in November 2009, the Gujiao facility has grown to account for US$233.8 million in petroleum sales for fiscal year 2012. The company acquired control of the Gujiao facility in January 2009 and began operations in November 2009. The company retrofitted the existing storage tanks to expand the storage capacity and built a new office and customer service centre. This facility has a total of 8 large storage tanks with a capacity to store 70,000 metric tonnes (approximately 25 million gallons) of petroleum products. It also has 4 tar storage tanks with a capacity of 40,000 metric tonnes. The company maintains delivery and distribution platforms, including a dedicated rail spur and a tanker truck fuel depot station at this facility and a retail outlet at this location. The company owns and maintains all assets at the facility.
The product sales revenue contribution from the Gujiao facility for the fiscal years ended June 30, 2012 and 2011 were US$233.8 million and US$188.3 million, respectively. The Gujiao facility is located in an industrial region, approximately 30 kilometres to the north of our Taiyuan facility in Shanxi Province, China. This facility became fully operational in January 2010. The facility is strategically located in a fast-growing industrial zone, providing a prime marketplace for Longwei\'s products. The area around Gujiao and Taiyuan is the energy centre of coal, coke and electricity in Shanxi Province and in China. The additional facility allows Longwei to service customers quickly and efficiently throughout the central region of Shanxi Province. Longwei recently completed plant upgrades at its Gujiao facility to include new coatings for its large storage tanks and scheduled maintenance and upgrades.
Operators:
Longwei Petroleum Investment Holding Ltd.: Operator with 100% interest