Recently, the Shanghai Municipal Bureau of Ecology and Environment issued a public notice for the acceptance of the Environmental Impact Assessment Report for the comprehensive technological transformation and upgrading project of Shanghai Petrochemical.

Construction project name: Comprehensive Technical Transformation and Quality Upgrading Project under Shanghai Petrochemical

Name of construction unit: Sinopec Shanghai Petrochemical Co., Ltd

Project construction location: Petrochemical Street, Jinshan District, Shanghai. Within the existing factory area of Sinopec Shanghai Petrochemical Co., Ltd. in Jinshan District, Shanghai.

Project construction content: This project adopts advanced process technology to adjust the structure of the refining unit while maintaining the existing refining capacity of 14 million tons/year. The existing 700,000 tons/year ethylene, No.2 oxidation, No.2 polyester and other old units will be shut down, and a new 1.2 million tons/year ethylene and downstream new material unit will be built to enhance the company′s intrinsic safety and environmental protection level.

Project investment amount and funding source: The company plans to invest approximately 21.307 billion yuan, sourced by self -raised funds.

Project construction period: About 3 years for construction of the project’s main parts and 5 years for construction of other facilities, subject to the actual construction situation.