Energy industry is the third largest business in Guangsha. As early as in 2003, company determined to enter energy industry in diversified development strategy. In 2004, China Guangsha established “Guangsha (Zhoushan) Energy Group Company”, beginning operating Huangzeshan Oil Transit Warehousing Project.
On November 29th 2011, after Ministry of Transport, Ministry of Environmental Protection and State Oceanic Administration passed it, National Development and Reform Commission argued repeatedly and approved the project and replied that: construction scale of Huangzeshan project is a crude oil (including fuel oil) berth (with a handling capacity of 18 million ton and a dock length of 470m in the designing year) of 300,000 ton, an oils berth of 80,000 ton (with a handling capacity of 8.2 million ton and a dock length of 342m in the designing year), 2 refined oil berths of 80,000 ton (with a handling capacity of 2.6 million ton and a dock length of 400m in the designing year), and construct refined oil tanks of 1 million m3 and 510,000 m3 and corresponding supporting facility.
It’s the first private enterprise that entered crude oil (fuel oil) transit warehousing project in the country, and also the first batch of Zhejiang key construction projects approved by the country, after the State Council approved to set up Zhoushan Islands New District!
Total investment of phase I of the project is 2.484 billion Yuan, starting construction in 2012. It is planned to be formally put into production in June 2015. China Guangsha plans to invest over 10 billion Yuan to complete Huangzeshan overall project construction.