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Beijing (CNS) -- China National Petroleum Corporation signed a landmark cooperation agreement with the National Council for the Social Security Fund, the Urban Infrastructure Construction Investment Fund, and Bao Steel to construct a third pipeline for the national west-east natural gas transmission project, Wednesday.
This is CNPC's first project to welcome social and private capital.
The third pipeline is more than 5,000 km long, and crosses 10 provinces and regions including Xinjiang, Gansu, and Ningxia. It is expected to transmit an annual gas volume of 30 billion cubic meters.
Private capital raised by the Industrial and Commercial Bank of China were also poured into the project.
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