Rongsheng Petrochemical intends to build a multi-functional polyester project

On September 18, Rongsheng Petrochemical Co., Ltd. (hereinafter referred to as "Rongsheng Petrochemical") issued an announcement on the investment and construction of a multi-functional polyester chip project with an annual output of 1 million tons.

The announcement shows that in order to further enhance the company's industrial chain advantages and enhance market competitiveness, expand the market size of the company's products and reduce unit costs of products, Rongsheng Petrochemical subsidiary Yisheng Dahua Petrochemical Co., Ltd. (hereinafter referred to as "Yisheng Dahua") intends to invest in the construction of "Yisheng Dahua" with an annual output of more than 1 million tons. The total investment of the project is estimated to be 2.517 billion yuan. The basic situation of the investment project is as follows:

Project name: Yishengda Petrochemical Co., Ltd. annual output of 1 million tons of multi-functional polyester chip project.

Construction address: Jinpu New Area, Dalian, Liaoning Province.

Construction Contents: This project mainly includes main production equipment, auxiliary production equipment, public works and so on. Amount of investment: The total investment of the project is estimated to be 2.517 billion yuan. Financing: Including but not limited to proprietary funds, bank loans and shareholder capital increase. Rongsheng Petrochemical said that the investment aims to further enhance the company's perfect industrial chain advantages and enhance market competitiveness, expand the market size of the company's products and reduce the unit cost of products.

This project has good market prospects and investment environment, which is very helpful to enhance the company's overall cost competitive advantage, and will not have a significant impact on the company's financial situation.