A new production base of Sinopec Tenth Construction Co., a large-scale comprehensive construction enterprise directly subordinate to Sinopec, China's largest oil refiner, was officially set up in Qingdao National High-tech Industrial Development Zone, Shandong province, on Nov 7th, which is expected to promote the upgrading and reforming of the development zone.

With a total investment of 1 billion yuan ($163 million), the new base covers an area of 215 mu (14.3 hectares) and includes a heavy machinery construction company, an R&D center for special material welding technology, and a special machinery production base, which will obtain a total annual turnover of 1.23 billion yuan after it is put into full operation.

Sinopec Tenth Construction Company, founded in 1970, is located in Zibo city, Shandong province. The company mainly engages in the petrochemical industry, oil and gas storage and transportation, equipment manufacturing, and construction project supervision. It has built more than 10 national key projects and more than 800 large or medium-sized devices for the petrochemical industry, coal chemical industry and medical industry.