# Rongsheng Petrochemical to invest $94B in Jintang new materials project

Rongsheng Petrochemical announced a 67.5 billion yuan ($9.4 billion) investment by its subsidiary Rongsheng New Materials (Zhoushan) to build a new materials project in Jintang, Zhejiang, including ABS, PC, EVA, and biodegradable plastics units. Construction period is 3 years.

- Type: Investment
- Announced: 2024-01-02
- Where: Jintang, Zhejiang, China
- Value: $9.40B (67.5B CNY)
- Status: announced
- Products: ABS, PC, EVA, biodegradable plastics, polyether polyols, alpha-olefins
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md), [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [Rongsheng Petrochemical](https://endata.com/companies/42219.md)

## Sources

- [chemnews.com.cn](https://www.chemnews.com.cn/c/2024-01-05/730001.shtml), 2024-01-05: "荣盛石化全资子公司荣盛新材料（舟山）有限公司拟投资建设金塘新材料项目。"

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