The Rongsheng Zhoushan joint venture project will increase domestic PX production capacity by 8 million tons in 2020

According to foreign media reports, Rongsheng Group, Tongkun Group and several other Chinese companies are building an integrated refining and petrochemical complex on Zhoushan Island in Zhejiang Province, which will increase the domestic production capacity of paraxylene (PX) by 8 million by 2020.
Tons/year
.
The source added that the joint device is expected to be completed by 2020
.
People familiar with the Rongsheng Group said that the first phase of the project will be completed by the end of 2018, and the PX production capacity will reach 4 million tons per year.
Two years later, the second phase of the project will continue to increase its PX capacity by 4 million tons per year
.
The person added that the refining and chemical complex has been under construction, and the refining capacity will reach 40 million tons/year
.
The petrochemical complex will include a 1.
8 million tons/year styrene monomer plant and an acetone plant, which means that most of the pure benzene produced will be consumed internally
.
In addition, Ningbo Zhongjin Petrochemical's PX Phase II project is expected to be put into operation in early 2018, which will allow the company to add another 2 million tons/year of PX capacity to the 1.
6 million tons/year plant that has been put into operation
.
Ningbo CICC is a subsidiary of Rongsheng Group
.
In 2016, China's annual PX imports were about 12 million tons or more
.
As domestic PX production capacity will increase by at least 10 million tons per year by 2020, imports may be threatened by rising local production
.