Green petrochemical industry

Zhoushan is a city endowed with unique advantages in terms of geographical conditions and marine resources. Located at the intersection of the east coast of China and the Yangtze River waterway, it is the main sea gateway to the world on the east coast of China and thus dubbed the starting point of the 21st Century Maritime Silk Ro.

Many of the 1,390 islands in Zhoushan are uninhabited and show great potential for further development and utilization. The 280-kilometer-long deep-water coastline is suitable for the development of deep-water shores.

Since the start of reform and opening up, Zhoushan Port has gradually developed into a major port for importing, transferring and storing energy and raw materials in the Yangtze River Delta. Zhoushan Port is currently ranked first in the world in terms of volume of cargo throughput. Zhoushan also boasts rich reserves of wind energy, tidal energy, submarine oil and gas, and seabed minerals.

Zhejiang Rongsheng Holding Group Co Ltd, as a controlling shareholder, invested in a large refining and chemical integration project of Zhejiang Petrochemical Co Ltd with investment of 173 billion yuan ($25.77 billion) in 2018. As the key project of Zhoushan Green Petrochemical Industrial Base, it is considered of great importance by the State Council and local provincial government.

The project is designed to refine annually 40 million tons of crude oil, 10.4 million tons of aromatics and 2.8 million tons of ethylene. The first phase of construction was completed and put into operation in 2018 and the second phase is expected to be finished in 2020.

The project’s design, construction, processing technology and production equipment are all conducted according to the international standard of first-class petrochemical bases.