zhejiang rongsheng holding group pricelist

Shenzhen-listed Rongsheng Petrochemical Co Ltd in August started trial operations at a 2-million tonne per year paraxylene facility in the eastern city of Ningbo, according to two sources with direct knowledge of Rongsheng’s oil trade.

A Rongsheng official declined to confirm the start-up, but pointed to a company release on Sept. 1 which referred to “the facility’s test operations being on schedule”.

Rongsheng’s quiet launch of the Ningbo plant comes after Dragon Aromatics, another independently-run petrochemical producer, was forced to shutter its large PX facility in Fujian province after a fire in April.

Rongsheng Petrochemical is controlled by Zhejiang Rongsheng Holding Group, a private firm that started as a small polyester maker before expanding into petrochemicals and real estate, with assets worth over 50 billion yuan ($7.86 billion), according to the group’s website.

The group also operates three large Chinese plants that churn out purified terephthalic acid, or PTA, that uses PX as feedstock to make polyester fibre, a sector now in oversupply after China started several large-scale plants.

Chinese private petrochemical group Zhejiang Rongsheng Holding has signed a framework agreement with state-run shipping conglomerate Cosco Shipping Group to form a strategic partnership.

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The memorandum of understanding between the company and Zhejiang province included plans to invest in a new refinery and co-operate in crude oil supply, storage and trading, according to details released by the Zhoushan government after a signing ceremony in the city south of Shanghai.

Zhejiang Petrochemical, 51 percent owned by textile giant Zhejiang Rongsheng Holding Group, is building a 400,000-barrels-per-day refinery and associated petrochemical facilities that was expected to start operations by the end of this year.

CSSC Shipping is poised to order up to 10 VLCC newbuildings for charter to compatriot Rongsheng Petrochemical in the first tranche of a 30-ship project.

The Hong Kong-listed leasing arm of Chinese state conglomerate China State Shipbuilding Co (CSSC) will split the $850m orders between two group affiliates, shipbuilding players said.

PVTIME– Rongsheng Petrochemical Co., Ltd., (002493.SZ) (hereinafter referred to as Rongsheng) announced that the 300,000MT EVA device was successfully put into operation on December 28, 2021, and its photovoltaic products have been successfully produced with 28% VA content.

These products were produced by the ‘40 Million MT/Year Integrated Refining and Chemical Project (Phase II)’, which invested by Zhejiang petroleum & chemical Co., Ltd., a holding subsidiary of Rongsheng. The project based in Green Petrochemical Base, Zhoushan City, China, with an annual output of 300,000MT PV products.

Furthermore, as early July this year, Rongsheng revealed in its interaction with investors that Zhejiang project (Phase II) is undergoing. The EVA device can produce all photovoltaic products, and it may make an expansion of EVA production capacity in the future.