The Green Petrochemical Base in Yushan Island, Daishan county, Zhoushan, Zhejiang province [Photo/zjol.com.cn]

Zhoushan, Zhejiang province, has been stepping up efforts to develop its Green Petrochemical Base in Yushan Island, Daishan county, into a world-class eco-friendly petrochemical base.

The base, which is expected to cover 41 square kilometers, will be constructed in three phases. The first two phases focus on a refining-chemical integration project by Zhejiang Petrochemical Group, which involves investment of 173 billion yuan ($24.47 billion), the largest amount spent by a domestic private company on such a project.

Construction on the first phase of the project began in June 2015 and finished in December 2019, hitting the target six years early. It has an annual processing capacity of 20 million metric tons of oil and chemicals.

Since entering production, the first phase of the project has processed 9.7 million tons of crude oil, generating 31.2 billion yuan in output.

The second phase is under construction and is expected to be finished in 2021.

Zhoushan has also been improving transport to bolster the development of the base.

The Yushan Bridge connecting Daishan Island and Yushan Island was completed on Dec 31, 2018. A bridge connecting Daishan with Zhoushan is also under construction and is expected to be finished by the end of 2021.

Local authorities said the development of the base will contribute to building an oil and gas industrial chain in the China (Zhejiang) Pilot Free Trade Zone.

The base has also been attracting international investors to build a world-class petrochemical industrial cluster.