According to foreign media reports, a Middle East consortium, led by Gulf Finance House (GFH), is looking to build a project named China Energy City taking up 13 km2 in Yanjiao, near Beijing. This city would contain facilities such as a branch of a planned Qatar-based energy exchange, a science park for energy education courses and a Sino-Arab business school, offering business education in English, Chinese and Arabic.
The story also quoted Esam Janahi, chief executive of GFH, as saying that China's increasing thirst for Gulf crude oil had motivated his company to invest here. Mr. Janahi also notes that the project will be built by GFH in cooperation with its sister company Gulf Energy and China's Longiian Group Limited Company.
However, a spokesperson for Longjian Group refuted the claim, saying that "we don't have such a project."
"This project is not quite possible," comments Cui Xinsheng, sectary-general of China International Petroleum Industry Investment Union, adding that such an ambitious plan would have to be run by the central government and the approved by National Development and Reform Commission (NDRC). Furthermore, a US$-5-billion energy city would need to contain at least one refinery, putting its estimated land area at 40 to 50 km2, not 13 km2.
For more details, please read the full story in Chinese. (http://paper.people.com.cn/gjjrb/html/2007-07/19/content_13421213.htm)
(China.org.cn July 19 2007)
