Sinopec, PetroChina buy land in Beijing for gas stations

Sinopec and PetroChina Co. Ltd. have each won the bid for a piece of land in Beijing to build a gas station. Sinopec acquired a parcel for 80.4 million yuan (US$11.78 million) per square meter of potential floor area in Xiaohongmen Village, Chaoyang District. PetroChina purchased a parcel for 80.6 million yuan (US$11.81 million) per square meter of potential floor area in Qijia town, Changping district. According to the Beijing Land Arrangement and Storage Center, the city will sell another three parcels for gas stations this year. (October 1, 2009)