On February 2, 2026, Rongsheng Petrochemical officially started construction of a 160-billion-yuan green coal-chemical integration project in Inner Mongolia. The project converts 35 million tons of raw coal annually, focusing on high-end polyolefins, specialty rubber, carbon fiber, and other chemical new materials, supported by wind-solar power generation and carbon capture facilities. Around the same time, Hengyi Petrochemical’s 25.7-billion-yuan coal-to-glycol project in Xinjiang was approved, and Tongkun Group secured coal exploration rights and launched coal-chemical technical upgrades. Private refining enterprises adopt the “coal-to-oil substitution” model to reduce oil price volatility and shift toward high value-added “materials-centric” models, optimizing China’s petrochemical resource and cost landscape while supporting the development of western energy and chemical bases. (Source: China Energy News, Rongsheng Petrochemical Overseas Investment Announcement)
