Our Group comprises Sinostar PEC Holdings Limited and our PRC 100% controlled subsidiary, Dongming Hengchang Petrochemical Co., Ltd. who runs a total of 550,000 tonnes of gas-fractionation production plants in two locations within Dongming county.
Dongming Hengchang acquired a 100% equity interest in Dongming Changshun Transport Company Limited and its branch offices Dongming Changshun Transport Company Ltd Ganyu Subsidiary Company since July 2015 from our strategic partner, Shandong Dongming Petrochem Holdings Group.
On 26 December 2018, we acquired a 70% controlling stake in Dongming Qianhai Petrochemical Co. Ltd. It features production capacities and expertise in processing and selling propylene, purified isobutylene and methyl tertbutyl ether (MTBE). In addition to doubling our capacity to produce propylene to 180,000 tonnes a year, it also extends our product lines.
In fiscal year 2018, our Group announced our proposed investment by our subsidiary Dongming Hengchang Petrochemical Co., Ltd. for the construction of a polypropylene production plant. The polypropylene production plant is expected to boost our Group’s production capacity by 5 times, from our current annual capacity of 50,000 tonnes to 250,000 tonnes per annum.