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Oriental Shenghong: Wholly owned subsidiary plans to invest approximately 3.45B yuan to build a delayed coking optimization and upgrade project
Dongfang Shenghong announces that its wholly owned subsidiary Shenghong Refining (Lianyungang) Co., Ltd. plans to invest in the construction of a 2 million tons/year coking raw material pretreatment facility and related supporting infrastructure projects, with an estimated investment of approximately 3.45B yuan. The construction period is expected to be 2 years. The project aims to ensure the production of high-value petroleum coke products by delayed coking units, enhance product added value, strengthen the competitive advantage of integrated refining and chemical operations, and improve the company’s market competitiveness in refining business. After commissioning, the project is expected to generate an average annual operating revenue of about 2.02B yuan and an average annual total profit of approximately 388 million yuan.