zhejiang rongsheng holding group free sample

This company operates as a holding firm for a group of subsidiaries engaged in polyester, spinning, false-twisting, coal chemicals, real estate, venture investment business activities. It was incorporated in 2006 and has its registered office in Hangzhou, China. As a holding company, it handles the administrative affairs and services and grants management services to its subsidiaries, as well as provides financial support and control function for the board. Furthermore, the firm is responsible for managing the group and its overall legal structure, tax planning, financial and equity structures. It is also in -charge in various matters relating to policy, strategic planning, marketing, selecting and manning senior management positions, approving investments and budgets, and the overall ongoing monitoring of the group"s performance.

China"s largest privately owned 800,000 barrel per day refining and petrochemicals complex is on schedule to start coming on line in the fourth quarter at the eastern coastal province of Zhejiang, according to a company official. The project led by Zhejiang Petrochemical is the most ambitious of at least four large private downstream developments that will not only compete with China"s dominant state majors, but also with its small independent refiners, known as teapots, and further worsen China"s refining overcapacity (IOD Jan.19"18). "The crude distillation unit (CDU) is expected on stream in the fourth quarter. Petrochemicals units will start up soon after," Wu Jian, senior manager petrochemicals for Rongsheng Petrochemical, which owns a majority stake in the project, told International Oil Daily on the sidelines of the recent Platts 5th Annual Asian Refining Summit in Singapore. Rongsheng Petrochemical is a subsidiary of textile maker Zhejiang Rongsheng Holding Group, which holds a 51% stake in Zhejiang Petrochemical, with private Juhua and Tongkun firms, each with 20%, and a local Zhoushan government-run company holding the remaining 9%. The refinery project will allow Rongsheng to back integrate, and produce its own, petrochemical feedstocks. The plans call for the complex to be built in two phases, each comprising 400,000 b/d of crude processing capacity and petrochemical facilities, and including 1.4 million tons per year of ethylene production capacity and 4 million tons/yr of paraxylene production capacity. The first phase is planned on stream this year, and the second in 2020. But despite Rongsheng"s repeated reassurances that the project is on target, analysts remain skeptical. "They may have some basic units on line this year. But the complex cannot produce on-spec products until 2020," said Wood Mackenzie"s Beijing-based refining analyst Ray Hou. A Beijing-based analyst with a trading company similarly does not expect the project to be ready this year. The complex only received government approval last May and it would be a remarkable feat to build 400,000 b/d of refining capacity and associated petrochemicals units in 19 months or less, observers have said, although one noted that it might be possible (IOD May8"17). "We expect Zhejiang Petrochemical will come on line in 2020, as they may have difficulties with securing heavy crude supplies and there is a glut of refined products in China," said Woodmac"s Hou. The company will first have to be granted a crude import quota, but that should not be a problem, sources said, as the complex is located on the island of Zhoushan which, as a free trade zone, benefits from much less stringent qualifying criteria for crude import quotas than those imposed on teapots (IOD Jan.22"18). Zhejiang Petrochemical is planning to process Saudi crudes, two sources told IOD, although the refinery will also have been designed to run other crudes with similar characteristics. Wu said the company would first buy crude on the spot market, when the CDU comes on stream. This may involve small volumes for conducting trial runs. Longer term, the company is expected to sign term contracts for its first and second phases. "Almost all oil majors have approached us," Wu said. Selling the refined products might prove more challenging. While the complex will focus on petrochemicals, its first 400,000 b/d phase will produce annually 3.7 million tons (85,000 b/d) of gasoline, 2.97 million tons (65,000 b/d) of kerosene and 1.8 million tons (37,000 b/d) of diesel, volumes that will be roughly doubled once the second phase comes on line. For the time being, only state companies are allowed to export products, while the teapots" growing output has led to oversupply in the domestic market. "China will either need to relax exports or create more domestic demand," a Singapore-based analyst with a trading company said. Maryelle Demongeot, Singapore

Zhejiang Petrochemical Co. Ltd.—a JV of Zhejiang Rongsheng Holding Group Co. Ltd., Juhua Group Corp., Tongkun Group Co. Ltd. and Zhoushan Marine Comprehensive Development Investment Co. Ltd.—is building one of the largest integrated facilities in the world. The integrated refining and petrochemical complex is being built approximately 280 km south of Shanghai on Zhoushan Island.

The nearly $7-B project is being developed by OQ8, a JV between OQ Group and Kuwait Petroleum International. The project, which is the cornerstone of the Duqm Special Economic Zone, consists of a 230,000-bpd full conversion hydrocracking/coking refinery and petrochemicals complex. The refinery is scheduled to be completed in 2022, followed by the petrochemicals complex in 2025. The petrochemicals complex includes a 1.6-MMtpy ethylene plant, a 280,000-tpy PP plant, a 480,000-tpy HDPE plant and an aromatics plant.

(1) ZPC: Zhejiang Petroleum & Chemical Co., Ltd, established in Zhoushan, Zhejiang on June 18, 2015, is a mixed-ownership enterprise jointly formed by the private enterprise Rongsheng Petrochemical Co., Ltd.（holding 51% of shares）， provincial state-owned enterprise Zhejiang Juhua Investment Co., Ltd.（holding 20% of shares）, the private enterprises Zhejiang Tongkun Investment Co., Ltd.（holding 20% of shares） and Zhoushan Marine Comprehensive Development and Investment Co., Ltd.(holding 9% of shares), which will be the first kind of mixing economy enterprise in China in the Refinery and Petrochemical Industry. ZPC’s first phase project includes 20 million tons per year refinery and 1400 KTA Ethylene Complex.