Sinopec fuels economic boom for rural region

China Petroleum and Chemical Corp has injected 315 million yuan ($48 million) into the Tibet autonomous region in the past 15 years to combat poverty.

The energy and chemical juggernaut has helped build infrastructure projects such as schools, hospitals, roads, bridges and houses.

In Bangor county alone, Sinopec has invested 64 million yuan in building affordable housing with electricity, 14.33 million yuan in earthquake relief, 2 million yuan in access to safe drinking water and 35 million yuan on the county hospital.

"The company plans to intensify its assistance to the region by setting up more special industries, which will generate bigger economic and social benefits," said Wang Yupu, chairman of Sinopec.

The company has also played a crucial role in developing the region's educational system.

Up to 500 children from poor families have completed their studies because of Sinopec's poverty alleviation foundation.

From 2009 to 2015, the world's biggest refiner invested more than 75 million yuan to help disadvantaged students in the region, including the construction of the Bangor County Sinopec Primary School. Located 4,700 meters above sea level, it is the highest-elevated school in China.

In 2005, 1 million yuan was spent by Sinopec to buy solar lighting equipment for 5,328 herdsmen.

By the end of this year, the company plans to roll out electricity for an additional 300 households.

Sinopec's investment in the area has seen Bangor county's GDP, or gross domestic product, increase by more than 12 percent annually in the past three years.

In 2016, average incomes for herdsmen at the county jumped by 419 percent, compared to 2002.

The company has also linked up with Tibet Highland Natural Water Ltd to establish Zhuoma Spring or bottled glacier water. It has since grown into a leading drinks company in Tibet.

Sales have reached 1.62 billion yuan in the past three years, providing jobs for 500 local people.

"Setting up a special industry like a glacier water brand, to generate tax revenue and employment, and help impoverished people escape poverty, is better than simple donations," Wang at Sinopec said.

Brand awareness has started to increase because of Sinopec's nationwide logistics network.

By June, 1.33 billion bottles of Zhuoma Spring, or 440,000 metric tons of drinking water, had been sold in the company's 25,000 Easy Joy convenience stores.

During the same month, Sinopec also reached an agreement with the local government to further develop the region's rich glacier water resources.

Now, its target is to produce 1 million cubic meters of drinking water annually by 2020.

Contact the writer at zhengxin@chinadaily.com.cn