OREANDA-NEWS. August 03, 2012. The opening ceremony of Shanghai Baoshan China Resources Gas Limited was held in Crowne Plaza Lake Malaren Shanghai, indicating that the gas business of Baosteel area has all been relegated to China Resources Company which is also China Resources Gas Limited first march to Shanghai gas industry.

By the end of 2013, the existing 100 thousand family users and more than 1000 group users in BaoSteel area will all end the history of using artificial coal gas by effective and clean natural gas.

China Resources Company is a key state owned enterprise under the administration of the SASAC, CRC operates in seven major sectors, namely the consumables, power supply, real estate, cement, gas, medicine and finance. The multi-business operations of China Resources are supported by its solid industrial foundation and market competency with its business in retail, breweries, power, land and property, gas and medicine taking the lead in their respective fields. China Resources was ranked the 233rd of the Global 500 by Fortune in 2012. Since 2003, CRC fling itself into domestic city gas business, at the moment, CRC has invested city gas projects in more than 150 large and medium-sized cities in China, and the annual natural gas supply has reached 10 billion cubic meters.

China Resources Gas Limited which is under CRC successfully bided 100% the stock rights of Shanghai Baoshan China Resources Gas Limited which was once the Shanghai Baojiang Gas Company of BaoSteel Developing Company through SUAEE in November 22th 2011. Hereafter, its scope of service mainly includes Youyi Road area, Guoyuan area and Yuepu area in Baoshan district and owns gas pipelines for about 220 kilometres about 100 thousand family users and more than 1000 group users.

In the next phase, China Resources Gas Baoshan Corporate is planning to invest CNY 200 million on a comprehensive transformation of the existing gas pipeline network, as well as completing the replacement from clean and effective natural gas to currently used manufactured gas with around two years according to the Shanghai 12th Five Year Plan gas program requirements. It is estimated that the number of local residents on Natural gas will reach to more than 200,000 households and the total use of the natural gas will reach 50 million cubic meters by 2002.

Mr Xu Lejiang once said in the speech as the vital measures during the process of industrial structural adjustment and upgraded development in BaoSteel, the group would fully drop out from BaoSteel gas business to meet the realization of public utilities socialization. When promoting the procedure of share transfer from the former BaoJiang Gas Company, both the BaoSteel Group and CR Gas kept in good faith, successfully finishing the related equity transfer, operation team borrowing, business lience modification, etc. He also hoped that, CR Gas Banshan could drive the environmental-friendly development of economy in Baoshan, with the objective of forming a more advanced and professional public service enterprise in high quality.

Mr Song Lin addressed, BaoSteel and CR Gas are communicating deeply in many aspects in recent years, both as the outsize centrally-administered state owned enterprises in the world top 500 and the open of the CR Gas Baoshan is a new starting point to deepen bilateral strategic cooperation and achieve the win-win situation. So, CR Gas Group would take advantage of this opportunity and provide better service to BaoSteel employees and community residents.

On the opening ceremony, Mr Si Fuming indicated that, both BaoSteel and CR Gas have actively participated in the local economic construction and public utility development which played an important role in motivating local economic development in Baoshan District and improving people's livelihood, etc. So Baoshan district will fully support the follow-up reconstruction project.