China National Petroleum Corp. and China Petroleum and Chemical Corp. will invest a total of around Yuan 8 ($1.22) billion in several projects in Zunyi in southern China's Guizhou province from 2011 to 2015. Under the agreement, Sinopec will invest Yuan 5 billion in Zunyi. The investment includes Yuan 2.5 billion for the construction of the Guiyang-Zunyi-Tongzi oil-product pipeline, Yuan 1.1 billion for the construction of the Beihai-Zunyi-Chongqing gas pipeline to the Beihai LNG resources and Chongqing Puguang gas field.
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