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On June 22,2005,the ten-million-ton Qingdao“major oil re-fining”project was listed in the plan and the ground breakingceremony was held in the Qingdao development zone(Huangdao Island).Among a total investment of ten billionyuan in the major oil refining project the SINOPEC Corp ac-counts for 85% of the equity shares,Shandong InternationalTrust and Investment Corporation and Reliable Family Prop-