Jiahua Energy (600273): To Invest Less Than 1 Billion Yuan In Low Temperature Tank Farm Projects

Jiaxing energy (600273.SH) announced that Jiahua energy is the core enterprise of China chemical industry new material (Jiaxing) park. The wholly owned subsidiary, Zhejiang Zhapu Mei Fu ferry storage Co., Ltd. is the largest liquid chemical Wharf in Jiaxing port. It mainly provides chemical materials handling and storage services for enterprises in the park. The company intends to use the superior physical geography and port conditions of Zhapu Port, the mature public works and auxiliary facilities of the park, and build a new low temperature tank farm to provide storage and transportation services for raw materials for the chemical industry of Jiaxing port and its surrounding areas. The investment volume of the company's low temperature tank farm project is not expected to exceed RMB 1 billion yuan.

In order to meet the needs of raw materials and products storage in Jiaxing port area and surrounding chemical enterprises and consider the loading and unloading capacity of the port, according to the requirements of the code for design of tank farm of petrochemical storage and transportation system, 1 sets of 150 thousand cubic meters low temperature ethylene (ethane) storage tank and 1 150 thousand cubic meters low temperature propane storage tanks and related supporting facilities were built in accordance with SH/T3007 requirements. It is expected to be put into operation in the first half of 2022, and the construction period is expected to be about 32 months.