Yankuang Energy (001171.HK) announced that the company invested in Inner Mongolia Rongxin Chemical's annual production of 0.8 million tons of olefins project, with an amount of 9.574 billion Chinese yuan. The company stated that the investment funds are raised in the form of self-owned funds and bank loans, with an investment payback period of 9.68 years.

The company stated that the project mainly involves the construction of an annual production of 0.8 million tons of methanol to olefins unit, along with annual production of 0.4 million tons of polyethylene unit, 0.4 million tons of polypropylene unit, 0.015 million tons of 1-butene unit, 0.05 million tons of steam cracking unit, as well as supporting storage and transportation, public utilities, and auxiliary production facilities. The main products are annual production of 0.4 million tons of high-density polyethylene and 0.4 million tons of polypropylene. (vc/w)

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