Shenghong Refinery (Lianyuangang) Co., Ltd. is the implementation subject of “16,000,000 tons refining integration project of Shenghong Refinery (Lianyungang) Co., Ltd.”. The project is located in Lianyungang Petrochemical Industry Base of Jiangsu Province (Xuwei New District Petrochemical Industrial Park), with a total construction investment of about 67.7 billion yuan and a total planned area of 613.19 hectares. After being constructed and put into operation, the project can realize an annual output value of about 92.5 billion yuan and a profit tax of about 24 billion yuan. The project was included in “Petrochemical Industry Planning Layout Scheme” by the State Council in July 2018, which is one of the nine major projects supported by the State Council and one of the three private refining projects.