Rongsheng Petrochemical today announced that in order to ensure stable supply of MEG, the company's main raw material for polyester production, the company intends to sign a supply contract with SABIC Asia Pacific Private Limited to purchase MEG from it and sign a purchase contract with Sumitomo Chemical Asia Pte Ltd. MEG's sale and purchase agreement.
Agreement: Rongsheng Petrochemical purchases MEG from Sabot Asia Pacific Pte. Ltd. at an amount of 18,800 to 192,200 tons/year, based on the average spot price of ICIS. The contract period is from January 1, 2011 to December 31, 2015. day. According to calculations, the transaction amount involved in this contract is approximately 1.542 billion to 1.645 billion yuan/year, which is a major increase compared with 2010. This is mainly due to the gradual production of Shengyuan Chemical Fiber’s polyester production capacity of the company’s wholly-owned subsidiary, and the demand for MEG. Increase in volume. Rongsheng Petrochemical's purchase of MEG from Sumitomo Chemical Asia Pte. Ltd. amounted to 3600 tons/year, and the pricing was based on the average spot price of ICIS. The contract period was from the effective date of the contract to December 31, 2011. According to calculations, the transaction amount involved in this contract is about 308 million yuan.
According to the statistics, in 2010, 2009 and 2008, the purchase amount of Rongsheng Petrochemicals to SABIC Asia Pacific Private Company was 829 million yuan, 460 million yuan and 754 million yuan respectively, accounting for 6.81% and 5.41% of the total purchases for the year. %, 12.80%. Rongsheng Petrochemical stated that Saab Asia Pacific Pte Ltd has no affiliation with the company.
Agreement: Rongsheng Petrochemical purchases MEG from Sabot Asia Pacific Pte. Ltd. at an amount of 18,800 to 192,200 tons/year, based on the average spot price of ICIS. The contract period is from January 1, 2011 to December 31, 2015. day. According to calculations, the transaction amount involved in this contract is approximately 1.542 billion to 1.645 billion yuan/year, which is a major increase compared with 2010. This is mainly due to the gradual production of Shengyuan Chemical Fiber’s polyester production capacity of the company’s wholly-owned subsidiary, and the demand for MEG. Increase in volume. Rongsheng Petrochemical's purchase of MEG from Sumitomo Chemical Asia Pte. Ltd. amounted to 3600 tons/year, and the pricing was based on the average spot price of ICIS. The contract period was from the effective date of the contract to December 31, 2011. According to calculations, the transaction amount involved in this contract is about 308 million yuan.
According to the statistics, in 2010, 2009 and 2008, the purchase amount of Rongsheng Petrochemicals to SABIC Asia Pacific Private Company was 829 million yuan, 460 million yuan and 754 million yuan respectively, accounting for 6.81% and 5.41% of the total purchases for the year. %, 12.80%. Rongsheng Petrochemical stated that Saab Asia Pacific Pte Ltd has no affiliation with the company.
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