Zhejiang Satellite Petrochemical Co., Ltd. (002648.SZ) Tuesday said it would invest no more than 3 billion yuan in building a 450,000-tonne/year propylene project and a 300,000-tonne/year polypropylene (PP) project.
The projects would expand production capacity of Zhejiang Satellite Petrochemical in Pinghu production base and extend its strategy to form integrated C3 industry chain. As the second phase of existing propylene project, the proposed new one would take full advantage of available technologies, drive production costs and meet demand in domestic market.
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