Asian top refiner Sinopec Corp. (SNP.NYSE; 00386.HK; 600028.SH) would build a new product oil pipeline in southwest China's Zhejiang Province, said a release by the company on Tuesday.
The pipeline would supply product oil to Hangzhou city and jet fuel to Hangzhou International Airport, respectively. Zhejiang Provincial Development and Reform Commission has approved the project in October.
The pipeline is expected to come on stream in 2016.
The pipeline extends over 110 km running from Shaoxing Donghu storage site to Xiaoshan Nanyang oil depot of Hangzhou city, according to local government.
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