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Dow Jones Newswires: Shell China Proj Prompts 2,700 Households To Be Resettled

By Benoit Faucon

LONDON (Dow Jones)–More than 2,700 Chinese households had to be resettled due to the construction of the Nanhai petrochemicals complex, its part owner Royal Dutch Shell PLC (RDSB.LN) said in a report Tuesday.

In its annual environmental and social report, the Anglo-Dutch major said that the relocation program was carried out according to World Bank and Chinese standards.

Shell owns 50% in the $4.3 billion project. The other half is owned by CNOOC Petrochemicals Investment Co. Ltd., a 90%-owned unit of China National Offshore Oil Corp.

The move underpins the complexity of managing the human side of China's fast economic growth for foreign investors such as Shell.

-By Benoit Faucon; Dow Jones Newswires; 44 20 7842 9266; [ 09-05-06 2232GMT ]

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