Rongsheng Petrochemical announced that Zhejiang Petrochemical Co., Ltd., a holding subsidiary of the company, plans to invest in the transformation and upgrading of integrated refining and chemical projects. The total investment is estimated to be about 19.6 billion yuan, and the construction period is expected to be 2 years. The project has been reviewed and approved by the 7th meeting of the 7th board of directors of the company and does not need to be submitted to the shareholders' meeting for review. After completion, the project is expected to achieve net profit of 1.41 billion yuan per year and an internal financial return of 11.08% after tax.

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