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[Industry Focus]：With a total investment of 67.5 billion yuan, Rongsheng Petrochemical plans to invest in Jintang New Materials Project, including 400000 tons/year of phenol and 250000 tons/year of acetone.

Read： 634 Time：22months ago Source：马后炮化工

On the evening of January 2, Rongsheng Petrochemical issued an announcement that in order to further extend the high-end chemical industry chain, the company's wholly-owned subsidiary Rongsheng New Materials (Zhoushan) Co., Ltd. plans to invest in the Jintang New Materials Project, with an estimated total investment of 67.5 billion yuan.

The basic information of the project is as follows:

project Name: jintang new material project of rongsheng new material (zhoushan) co., ltd.

Project investment estimates and funding sources: it is estimated that the total investment of this project is 67.5 billion yuan, and the source of funds is the company's own funds and bank loans.

Project content: this project is to extend the downstream industrial chain of Zhejiang Petrochemical Company and CICC Petrochemical Company. It is planned to build the following new units: 3 million tons/year catalytic cracking unit, 1 million tons/year gas separation unit, 600000 tons/year aromatics extraction combined unit, 300000 tons/year PEO unit, 1 million tons/year EVA combined unit, 200000 tons/year POE unit, 40/250000 tons/year phenol/acetone unit, 200000 tons/year 1,3-propylene glycol plant, 40/880000 tons/year PO/SM plant, 400000 tons/year PTT plant, 600000 tons/year maleic anhydride plant, 500000 tons/year BDO plant, 200000 tons/year PBS plant, 400000 tons/year PBT plant, 120000 tons/year isobutylene plant, 150000 tons/year CO2 recovery plant, 160000 tons/year ethyl oxidation plant, 200000 tons/year DMC plant, 480000 tons/year polyether polyol unit, 1.2 million tons/year ABS unit, 2 × 240000 tons/year bisphenol A unit, 2 × 260000 tons/year polycarbonate unit, 100000 tons/year CHDM unit, 100000 tons/year PCT unit, 100000 tons/year PCTG unit, 50000 tons/year UHMWPE unit, 300000 tons/year α-olefin unit, and the corresponding supporting general plan, storage and transportation, water supply and drainage, power supply and telecommunications, thermal engineering, auxiliary facilities and other works and off-site works. (There may be some device types or sizes that will be adjusted based on market conditions).

Estimated economic benefits: according to the estimation of the feasibility study report, the total investment of the project is expected to be 67.5 billion yuan, and the source of funds is the company's own funds and bank loans. After the completion of the project, it can achieve an average annual operating income of 86,877.14 million yuan and a net profit of 15,463.03 million yuan per year. The project's after-tax financial internal rate of return is 24.81, and the after-tax payback period is 6.11 years (including the construction period of 3 years).

Project Planning:

on November 30, 2023, the main project of Jintang new materials officially started construction. The total investment of the first batch of projects is 26.24 billion yuan, covering an area of 3500 mu. The construction content includes 10 sets of main devices, control center, ro-ro terminal and other 12 public works. It is expected that by the end of 2024, the first 10 sets of main devices will be completed; in June 2025, the relevant devices will be put into operation.

The project is located in Jintang Island, Dinghai District, Zhoushan City, Zhejiang Province, invested and constructed by Rongsheng New Materials (Zhoushan) Co., Ltd. We will focus on the development of high-end chemical industry chains such as low-carbon polyolefins, fine chemicals, high-performance resins, engineering plastics, degradable plastics, special polyurethanes and new fiber materials, and build 27 sets of main devices and 16 public works.

The construction site of the project is located in Jintang New Materials Park, which is located in the reclamation area in the northern part of Jintang Island. It is part of the integrated upgrading block of Zhoushan Green Petrochemical Base (in April 2021, Zhoushan Green Petrochemical Base expanded 17 square kilometers to Dinghai Industrial Park, Zhoushan High-tech Industrial Park, Jintang and Liuheng reclamation blocks). The planning area of the whole park is about 7.13 square kilometers, which is divided into East and West areas, of which the Middle East area is about 3.59 square kilometers and the West area is about 3.54 square kilometers. The project utilizes the refining capacity of Zhoushan Green Petrochemical Base of 40 million tons/year, mainly invests in the construction of 7 chemical industry chain projects and supporting projects, and the total product volume is expected to reach 4.5 million tons.

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