Jiangsu Honggang Petrochemical Co., Ltd. is one of the key enterprises established by Shenghong Group in Lianyungang industrial basis. The company is located in Xuwei New District, Lianyungang City, the project covers an area of 1800 acres, the existing total investment of more than 8 billion yuan. It mainly includes the key plant of Phase I PTA plant with annual output of 1.5 million tons and the Phase I PTA plant with annual output of 2.4 million tons, and auxiliary plant and utility facilities. The main products of the company is purified terephthalic acid (Referred to as PTA), which is widely used in in textile new materials, functional fibers, polyester new materials and other fields.

The Phase I plant with 1.5 million tons annual output was started construction in 2011, and put into production in May 2014. The Phase II plant with 2.4 million tons annual output was started in May 2019, which used the international most advanced PTA production technology and completed in February 2021. The construction and production of the Phase II Plant will greatly reduce the production cost of the company and increase the operation performance, and promote the industry competitiveness and market share of the company.