In Zhejiang, three projects aimed at improving the quality and upgrading the refining and chemical industries are underway, with a total investment of 42.5 billion yuan

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Three projects for the improvement and upgrading of Zhejiang’s oil refining and chemical industry are underway, with a total investment of 42.5 billion yuan. 1. Zhejiang Petrochemical Co., Ltd.: The investor in this project for high-end new materials is Rongsheng Petrochemical (002493). Location: Yushan Island, Daishan County, Zhoushan City. Total investment: 28.6 billion yuan. Key components of the project: construction of facilities for producing 250,000 tons per year of adiponitrile, 280,000 tons per year of hexamethylenediamine, 500,000 tons per year of nylon 66, 4×100,000 tons per year of POE (polyolefin elastomer), and 350,000 tons per year of α-olefins. The project utilizes proprietary technology, filling gaps in key technologies within China’s high-end polyolefin and nylon industry chains, and providing essential raw materials for industries such as photovoltaics, automotive, and electronics. 2. Renovation and upgrading project of the integrated refining and petrochemical complex of Zhejiang Petrochemical Co., Ltd.
Investor: Rongsheng Petrochemical (002493)
Construction site: Yushan Island, Daishan County, Zhoushan City
Total investment: 9.2 billion yuan
Key features: Without increasing the crude oil processing volume, the project aims to reduce the proportion of refined oil output by 12% through technological upgrades. It will significantly improve the yield of light chemical oils, thereby providing raw materials for downstream high-end new material projects. This initiative facilitates the transition of traditional refining and petrochemical operations toward the production of new chemical materials. 3. Sinopec Ningbo Zhenhai Refining & Chemical Co., Ltd.’s 1 million tons per year toluene selective disproportionation project: Investor – Sinopec (600028); Location – Zhenhai District, Ningbo City; Total investment – 4.7 billion yuan. Core objective: To build a new plant with an annual production capacity of 1 million tons of p-xylene (PX), thereby optimizing the structure of aromatic products and providing a stable supply of high-quality raw materials for downstream industries such as polyester, high-end films, and special fibers.