PROFILE
Throughout China now, many cities are trying to create chemical hubs to serve the growing industry base," says Marie Heng, whose company, Great Eastern Providence (GEP), recently began building its third bulk liquid terminal in China, in the Petrochemical Industry Zone of Qingdao in Shandong province.
Shandong is predicted to be China's highest growth region this year, adds Ms Heng. With its deep water, GEP's new Qingdao terminal is poised to serve the importation needs of chemical manufacturers throughout Shandong province, as well as in the local Chemical Park. The company also hopes it will become a base for chemical trading activities between North China, Korea and Japan. Around US$100 million will be sunk into the Qingdao project by Singapore-based GEP, through its terminals subsidiary Eastern Tankstore - placing it firmly on the map as an independent terminal operator in the burgeoning Chinese market.
Rapid growth
It's a long way from the company's beginnings, when GEP started out as a steel drum manufacturer in 1979, supplying drums to oil and chemical majors such as ExxonMobil and Shell, chemical traders and distributors, and edible oil producers.
