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Asia Pulse: SHELL CONTINUES TO EXPAND INVESTMENT IN CHINESE MAINLAND: Shell Group has so far invested more than US$3 billion in the Chinese mainland, said Lim Haw Kuang, chairman of Shell Group of Companies in China.: Friday November 18, 2005

 

 

GUANGZHOU, Nov 18 Asia Pulse - Shell Group has so far invested more than US$3 billion in the Chinese mainland, said Lim Haw Kuang, chairman of Shell Group of Companies in China.

 

Lim made the remarks at the International Consulting Meeting on Economic Development sponsored by the Guangdong provincial government in east China held on Nov. 16.

 

Chairman Lim noted that Shell is actively seeking new projects for expanding its investment in China, including these projects in Guangdong Province related to the development of filling stations, liquefied national gas (LNG) and coal gasification.

 

At present, the Nanhai petrochemical project, a joint venture with China National Offshore Oil Corp (CNOOC), is the largest investment project in China by Shell Group. The project located in Huizhou City, Guangdong Province, involves a total investment of US$4.3 billion.

 

In addition, Shell also has introduced its gasification technology into China and joined hands with China Petroleum and Petrochemical Corp (Sinopec) to build a coal gasification plant in Yueyang City, central China's Henan Province.

 

Shell Group has also signed an agreement with Jiangsu provincial government in east China on building 500 filling stations and struck a deal with northeast China's Jilin Province on development of oil shale in September this year.

 

It is reported that a coal-to-oil project, involving cooperation between Shell Group and Shenhua Group, China's largest state-owned coal producer, is now undergoing a feasibility study.

 

(XIC)

 

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