China and Malaysia Launch Joint Venture for Oil Pipes in Shanghai

摘要

@@ The largest oil companies of China and Malaysia,PetroChina and UMW, launched a joint venture - B SW Petropipe Company - in Shanghai on May 30, 2004, just one day following Malaysia's decision to recognize China as a full market economy. This joint venture, in which PetroChina holds a 51 percent stake while UMW takes up the remaining 49 percent, is expected to be the major supplier of oil and gas pipelines in East China, with a projected annual output of 300,000 tons for steel pipes of various kinds.