State-run oil producer PetroChina has signed an agreement with Anhui province to invest 400 million yuan (48.8 million) in expanding storage capacity of its oil products storage tanks to 100,000m3 with an annual throughput of 2 to 3 million tonnes.
The project is scheduled for completion in 2012. PetroChina will also invest 500 million yuan in expanding its presence in oil products distribution within five years.
