Two major project milestones for the Zhoushan Jintang New Materials Integration Project have been successfully achieved

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On June 27, two major milestones were successfully achieved in Rongsheng Petrochemical (002493)’s Jintang New Materials Integration Project in Zhoushan, marking the official entry of the project into the final construction phase prior to commissioning. In terms of offshore supporting projects, the project successfully carried out China’s first large-span, high-tonnage precision lifting operation at sea. The module lifted this time weighed 515 tons and was 43 meters long; this not only set a new record for similar petrochemical offshore pipeline construction in China but also filled a gap in domestic construction technologies in this field, laying a solid hardware foundation for the interconnection of pipelines within the industrial park. Significant progress has also been made in the storage and transportation infrastructure; all 16 large-scale spherical tanks manufactured by LANSHI Heavy Equipment have been successfully completed, including 8 3000 m³ ethylene tanks and 8 3000 m³ propylene tanks. The large-scale storage facilities are now fully built, providing a reliable foundation for the installation of subsequent production equipment, the delivery of raw materials, and the storage and transportation of products. The total investment in this integrated project is approximately 67.5 billion yuan. It is planned to construct 27 main production units. Upon completion, the project will boast a production capacity in the tens of millions of tons for petrochemicals, aromatics, and new materials industries. Relying on these projects, the company is focusing on developing high-end new materials such as high-performance resins and biodegradable plastics, thereby improving the structure of its upstream and downstream supply chains. The projects are expected to come online in phases by 2027; once operational, they will further boost the company’s performance and strengthen its position in the domestic industry of refined chemical new materials.