QINGDAO Hiwini Group has kicked off its 5.4-billion-yuan petrol and chemical engineering project in the industrial area adjacent to Dongiiakou Port in southern Jiaozhou Bay.

    The start of the project marks a breakthrough in the city’s relocation of enterprises from the old city.

    The company will make use of international petrol resources to develop its petrol and chemical engineering capabilities, as well its fine chemical arm, according to company management.

    In addition, the company will use the liquid chemical docks in the area to develop a liquid chemical warehousing project and third-party logistics, servicing mid-western and southwestern Shandong Province, as well Henan and Shanxi Provinces.

    The project will be completed in two stages, with the first stage focusing on relocation and the second stage for transformative development.

    The first stage is expected to be completed in 2013, achieving a yearly sales revenue of 3.6 billion yuan.

    The second stage will be completed in 2016.

    After relocation, the company will upgrade its production technology and apply energy-saving technologies to its production, boosting output and profit.

    (Li Hao, Lin Gang)