SINOPEC SSC (01033) won the bid for the second section of the project of 250,000-ton crude oil import berth and supporting facilities at Dongying Port in Shandong Province.

SINOPEC SSC (01033) announced that its wholly-owned subsidiary, Sinopec Petroleum Engineering Construction Co., Ltd., has successfully won the bid for the second phase of the project for the 250,000-ton crude oil import berth and supporting facilities in Dongying Port, Shandong Province. The bid amount is approximately RMB 1.434 billion, accounting for about 1.94% of the company's operating income in 2022 under Chinese accounting standards. The company is responsible for the construction of a 63.5 km long subsea oil pipeline, with a construction period of 532 days. Winning this project demonstrates the company's strong capabilities in marine engineering. Currently, the relevant parties have not signed the contract officially, and there are uncertainties in the project. Investors are advised to pay attention to investment risks.