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On March 24, Dongfang Shenghong issued two announcements in succession, planning to build two projects with a total investment of over 14 billion yuan. Dongfang Shenghong announced that its third-tier holding subsidiary, Lianyungang Hongke New Materials Co., Ltd., plans to invest in the construction of a project for degradable materials (Phase I). The total investment for the project is 7.471 billion yuan, with a construction period of 3 years. It is planned to build a maleic anhydride plant with an annual capacity of 340,000 tons, a BDO plant with an annual capacity of 300,000 tons, a PBAT plant with an annual capacity of 180,000 tons, as well as various supporting facilities. The announcement states that this project is a complementary component to Shenghong Refining & Chemicals (Lianyungang) Co., Ltd.’s 16-million-ton refining and chemical integration project. It utilizes n-butane produced by that integration project as raw material for further processing; BDO is manufactured through the maleic anhydride method, and PBAT biodegradable materials are produced by combining this with PTA manufactured by the company’s wholly-owned subsidiary, Jiangsu Honggang Petrochemical Co., Ltd. This approach extends the industrial chain downstream, increases the added value of the products, and enhances the company’s overall competitiveness and profitability. Another announcement from Dongfang Shenghong stated that its wholly-owned subsidiary, Honghai New Materials (Suqian) Co., Ltd., plans to build a facility for the production of 1 million tons per year of intelligent functional fibers. The total investment for the project is 6.655 billion yuan, with construction carried out in two phases, each lasting two years. The project aims to produce 1 million tons per year of intelligent functional fibers, and it includes 42 production lines for polyester filaments of the POY (pre-orientation yarn) type, 6 production lines for FDY (fully drawn yarn) type, as well as manufacturing facilities and auxiliary supporting systems. According to the announcement, this project is also a supporting facility in the downstream industrial chain of Shenghong Refining and Chemical’s 16-million-ton refining and chemical integration project.