On April 10, Eastern Shenghong announced that its wholly owned subsidiary, Lianyungang Hongke New Materials, has signed a cooperation framework agreement with the Xuwei New District Administrative Committee to invest in an aromatics value chain optimization project, with a total planned investment of approximately CNY 13.33 billion.
The project includes 150 ktpa TDI, 50 ktpa HDI, 300 ktpa PC, 240 ktpa caustic soda, and 240 ktpa BPA, covering a total of 10 key units, aiming to further extend the downstream aromatics chain and enhance integration in new materials.
The company noted that the agreement is non-binding, and the project remains subject to approvals and further execution, with uncertain impact on future financial performance.