On May 10, China Petroleum & Chemical Corporation (Sinopec) Hunan Company held a press conference to mark the launch of the construction of its Xiangtan-Loudi oil pipeline project.
The project will cost RMB 860 million ($132 million) in total. The new pipeline will be 130 kilometers long. It will link up with the existing Yuechang Zhutan oil pipeline, connecting Xiangtan in Hubei Province to Shuangfeng County, Loudi, Hunan Province.
In line with the project, the municipal government of Loudi plans to build a new railway to be used exclusively for oil shipments and which will have an annual delivery capacity of 1.5 million mt. It also plans to rebuild an oil depot.