Rongsheng Petrochemical: Its holding subsidiary plans to invest 19.6 billion yuan to build an integrated refining and chemical upgrading project.

Rongsheng Petrochemical announced that its holding subsidiary Zhejiang Petrochemical Co., Ltd. plans to invest in the renovation and upgrade project of the integrated refining and chemical project, with an estimated total investment of about 19.6 billion yuan, and a construction period of 2 years. The project has been approved by the seventh meeting of the seventh board of directors of the company and does not require approval by the shareholders' meeting. It is expected that the project will achieve a net profit of 1.41 billion yuan per year after completion, with a post-tax financial internal rate of return of 11.08%.