China agrees to develop crude oil reserves
China will invest 3.5 billion yuan (HK$4.10 billion) in developing national strategic crude oil reserves in Tianjin, according to media reports. The reserves, which are located in the Binhai New Area, will have an initial designed capacity of 32 billion cubic metres, and will be built by China Petrochemical Corp. An ethylene production project, with a projected annual production capacity of 1.2 million tonnes, will be built during the same period.
City provides port of call for yachtsmen
Tianjin will soon to be home to a 9 billion yuan (HK$10.78 billion) yacht port, the country's largest, as interest in private boat ownership grows, according to media reports. The Tianjin International Cruise Home Port is expected to have 750 berths to accommodate 300-foot luxury yachts by 2015.
Binhai-made chopper passes maiden flight
The first helicopter made in Binhai New Area has conducted its maiden flight successfully. The AC311 light multipurpose civilian helicopter, developed by the Aviation Industry Corporation of China, is used in China in communication and command, aerial photography, medical aid, and forest fire protection. AVIC has signed agreements with Guiyang People's Government and Binhai Public Security Bureau.