# Rongsheng Holding Group starts construction of $10.6B Jintang New Materials project

Rongsheng Holding Group started construction of the Jintang New Materials project in Zhoushan, Zhejiang, China, on November 30, 2023. The total investment is 76 billion yuan ($10.6 billion), with the first batch of 10 main units expected to be completed by end of 2024 and operations in June 2025.

- Type: New facility
- Announced: 2023-11-30
- Where: Jintang, Zhoushan, Zhejiang, China
- Value: $10.6B (76.0B CNY)
- Starts operating: Jun 2025
- Status: under construction
- Capacity: 3 million tons/year catalytic cracking, 600,000 tons/year aromatics extraction, 1 million tons/year EVA, 260,000 tons/year polycarbonate (x2), 1.2 million tons/year ABS, 50,000 tons/year UHMWPE, 300,000 tons/year alpha-olefins
- Products: low-carbon polyolefins, fine chemicals, high-performance resins, engineering plastics, degradable plastics, special polyurethanes, new fiber materials
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md), [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [Rongsheng Holding Group](https://endata.com/companies/74205.md)
- [Rongsheng New Material](https://endata.com/companies/74777.md) (partner)

## Sources

- [echemi.com](https://www.echemi.com/cms/1532016.html), 2023-12-05: "After the project reaches full production, the annual output value is expected to reach 91.7 billion yuan."
- [chemorbis.com](https://www.chemorbis.com/en/plastics-news/China-s-Rongsheng-to-construct-a-new-petchem-complex-in-Zhoushan/2024/01/04/890163), 2024-01-03: "The new complex will extend the downstream presence of the company’s Zhejiang Petrochemical and Ningbo Zhongjin Petrochemical affiliates."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.