Rongsheng Petrochemical (SHE:002493) plans to build a new chemical factory with a capacity of 400,000 tons of acrylonitrile, butadiene and styrene (ABS) per year.

The Chinese petrochemical firm’s subsidiary, Zhejiang Petrochemical, will build the facility in Zhejiang province’s Zhoushan Green Petrochemical Base, according to a filing on Tuesday.

The new plant will increase Rongsheng’s ABS annual production capacity, the company said.

Source: MarketScreener