Business· Markets· Equity

Rongsheng Petrochemical presented with highest quality award, ESG’s impacts scored flying colors

minutes 2023/01/13 09:34:13

Jan 13, 2023 (China Knowledge) - This week, Zhejiang Petroleum & Chemical (ZPC), a subsidiary of Rongsheng Petrochemical (002493), was presented with Highest Quality Award from local government where it operates in the Daishan County, Zhejiang province. This award established by the local government is specially presented to outstanding enterprises with excellent product quality, corporate governance, business ethics and social responsibility.

The award is an authoritative recognition of ZPC's management, comprehensive competitiveness and social influence. After 7 years of construction and development, the company's 40 mln tons per annum (T/A) integrated refining and chemical project now has put into full operation. It is the fifth largest in the world and the largest single-site integrated refinery in the country.

This behemoth industrial complex is designed to provide a comprehensive chemical production hub and the epicenter capable of churning new derivatives from petrochemicals and by-products.

ZPC’s products cover new materials, organic chemicals, synthetic fibers, synthetic resins, oil products and other specialty chemicals which basically realizing "from a drop of oil to everything in the world".

As an advance enterprise it is deeply integrated with hi-tech manufacturing and artificial intelligence technology that is also green, safe and efficient in chemical manufacturing. In terms of sustainability the plants performed very well in product yield, quality management, environmental protection and energy conservation.

It is estimated that it boosts a large number of suppliers and partners to thrive together and indirectly created about 120,000 jobs that improve the livelihood of local residents and promote the harmonious societal development and regional economy.

ZPC is expected to enhancing its downstream markets that serve China's advancing manufacturing, and consumption that is upgrading rapidly.

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