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Chinese Tianjin industrial zone wooes Russian investors

Source:   Time:

A special promotion for Tianjin Nangang Industrial Zone of China was held here Tuesday during the 13th International Exhibition For Equipment And Technologies For Oil and Gas Industry.

At the promotion, Chinese representatives introduced the economic prospects of the Bohai Economic Rim with the city of Tianjin taking the lead, in particular, the infrastructure and industrial distribution of the Nangang Industrial Zone.

Wang Junming, President of the Nangang Industrial Development Co. Ltd, said the industrial zone would primarily develop petroleum, petrochemical and equipment manufacturing industries, " in which Russia has remarkable competitive advantages."

Wang also told Xinhua that Russian petroleum, petrochemical and relevant equipment manufacturing companies would find their own development space at Nangang because of policy support from both governments.

Sergei Sanakoev, head of Russia-China Center of Trade and Economic Collaboration, told Xinhua that it was of extreme attraction for Russian and Chinese enterprises to engage in petroleum and petrochemical cooperation at Nangang Industrial Zone.

According to Sanakoev, a joint venture set up by Russian oil company Rosneft and China National Petroleum Corporation has chosen Nangang to develop cooperative projects.

"In my opinion, after them, more companies from oil refinery and petrochemical industry will go (to Nangang) too," he said.

The five-day exhibition that opened on Monday has drawn 36 enterprises from countries including Russia, China, the United States, Germany and Japan.

The exhibition is organized every two years in Moscow to provide a platform for exchanges of latest technology and equipment in the gas and oil exploration fields. Besides, international seminars will also be held on the energy efficiency, safety and creative development.

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