Business
Last updated at: (Beijing Time) Wednesday, December 03, 2003
J.P. Morgan to build petrochemical wharf at lower Yangtze River
US giant J.P. Morgan, one of the world's top 500 companies, signed a contract recently on the investment of 130 million US dollars in building a wharf for storage of petrochemicals at the lower Yangtze River.
The project, in Yangzhong City in east China's Jiangsu Province,will be wholly owned by J.P. Morgan, which is mainly engaged in the development of storage of petroleum and chemical products.
The first phase of the project, registered at 60 million US dollars, will cover an area of 100 hectares.
Jiangsu is one of China's petrochemical bases and boasts many large petrochemical plants, including Jinling and Yangzte petrochemical companies.
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