Qingdao city of Shandong province recently began construction of a shale gas and solid control products base and marine equipment base of shale gas in Konggang Industry Park.

The products base will mainly produce shale gas mining equipment and oil drilling equipment. The equipment base will mainly produce engineering modules and cranes for offshore oil platforms. Each project has an investment of $100 million.

When put into operation, the two bases will generate an annual income of 2 billion yuan ($330.3 million) and tax revenues of 5.2 million yuan.