THE construction of an oil futures delivery project started Dec. 21 at Dongjiakou port area in Qingdao.

    With an initial investment of 4 billion yuan from enterprises in Qingdao and Switzerland, the project will include a 3.6-million-cubic-meter oil depot, as well as supporting facilities.

    A second-stage investment of US$1.5 billion will see the depot’s storage capacity expanded to 15 million cubic meters.

    The project will be China’s first oil futures delivery depot and an important part of an energy transaction platform in the port area.

    (Martin Li, Li Xiaohai)