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Recently, the groundbreaking ceremony for Phase 3 of Zhejiang Satellite Energy Co., Ltd.’s 10-billion-yuan project was held. The Satellite Energy Phase III project is the second project worth 10 billion yuan introduced by Dushan Port Economic Development Zone, and it is also one of the major projects in Zhejiang Province. The total investment in this project is approximately 10.2 billion yuan, which is mainly used to build facilities for propylene production via propane dehydrogenation (PDH), polyol production, and neopentyl glycol production, along with supporting processes such as air separation, syngas production, and syngas purification. Upon completion, the project will have the capacity to produce 40,000 tons of hydrogen, 900,000 tons of propylene, 800,000 tons of polycarbonols, and 80,000 tons of neopentyl glycol and other new chemical materials. It is estimated that the annual output value will reach 15.6 billion yuan, the annual profit will be 2 billion yuan, and the annual tax revenue will exceed 1 billion yuan. The construction of this project will effectively address the issues related to the supply of raw materials throughout the upstream and downstream stages of the satellite energy carbon trisulfide industry chain, enhance the level of integration within this industry chain, establish a green and low-carbon new material industry chain, and foster the formation of an industrial cluster. Yang Weidong, the chairman of the company, said that Satellite Energy will take the commencement of this major project as an opportunity to make full use of the geographical advantages, industrial strengths, and favorable business environment of Dushan Port, and go all out to ensure the successful construction of the project, aiming for early investment, early results, and early benefits, so as to further promote the sustainable and healthy economic and social development of Pinghu City.