Project Profile
Value: US$110.6 million
Location: Xingyuan Township, Fanshi County (south of the main train station) in northern Shanxi Province, China
Storage capacity: 100,000 metric tons (approximately 36 million gallons)
Start-up Year: January 2009
Longwei Petroleum Investment Holding Ltd. owns and operates the Huajie storage facilities. Longwei acquired the assets of Huajie for a total purchase price of RMB 700 million (approximately US$110.6 million). The company closed on the asset purchase transaction with the Seller on September 26, 2012. The Huajie assets are located in Xingyuan Township, Fanshi County in northern Shanxi Province, China. The assets include fuel storage tanks with a 100,000-metric ton capacity with accessory facilities and equipment, delivery and distribution platforms, including a dedicated rail spur and a vehicle loading and unloading station. The purchase also includes a 3,000 square metre office building and land use rights for 98 acres of land adjacent to the main regional rail line. The new facility is in a growing industrial and mining region, approximately 200 kilometres to the north of Taiyuan.
Operators:
Longwei Petroleum Investment Holding Ltd.: Operator with 100% interest