Zhejiang Petrochemical Co., Ltd. was established on June 18, 2015, as a mixed-ownership enterprise with private capital as the majority shareholder and state-owned capital as a minority shareholder. The 40-million-ton-per-year integrated refining and petrochemical project (hereinafter referred to as “the Project”), invested in and constructed by the company, is located within the Zhoushan Green Petrochemical Base. It serves as a key pillar for the China (Zhejiang) Pilot Free Trade Zone in building a complete petroleum product industry chain and implementing the “Three Bases and One Center” development strategy. The Project covers a total planned area of 41 square kilometers with a total investment of 173 billion yuan. It produces more than 20 types of petrochemical products, including China VI-compliant gasoline and diesel, jet fuel, paraxylene (PX), high-end polyolefins, and polycarbonates.

The carbon dioxide project undertaken by our company in March 2021 is part of the Phase II project of the 40 million metric tons per year integrated refining and petrochemical project. It adopts a cooperative model involving the supply of process packages, proprietary equipment, and proprietary catalysts. The product quality complies with the “GB 1886.228-2016 National Food Safety Standard: Food Additives—Carbon Dioxide” standard. We have completed the delivery of patents and proprietary equipment, and the facility is expected to commence operations in 2023.