Growth Enterprise Market-listed Wah Sang Gas Holdings plans to invest 52 million yuan (about HK$48.73 million) after winning a bid to become the exclusive supplier of natural gas to Tianjin Airport Industrial Port. The company would purchase land and equipment and establish gas stations in the industrial port. The firm said it had yet to negotiate and sign supply contracts with the final customers but expected daily gas usage to exceed 100,000 cubic metres when the entire project was completed between 2006 and 2008. Wah Sang expected to start piping gas to the port in March 2004. Wah Sang said Tianjin Airport Industrial Port was seen as an extension of the Tianjin Port Free Trade Zone. The port could accommodate 16,000 residential units and 100 industrial and commercial units, it said. Sweden's Electrolux and Japan's Aisan Vehicle had indicated an interest in taking up space at the port. Executive director Qian Mingjin said Wah Sang Gas had an internal forecast that its investment could be recouped in four to five years. Wah Sang Gas would purchase the gas from PetroChina and China Petroleum & Chemical (Sinopec). The state-stipulated liquefied petroleum gas selling price by the oil majors was 1.36 yuan per cubic metre and the re-sale price to final customers had to be between 1.80 and 2.10 yuan, Mr Qian said. Phase one of the industrial port was expected to be completed in 2005, by which time Wah Sang hoped to sign up 6,000 residential and 40 industrial and commercial customers.