Zhejiang Cenway New Synthetic Materials Co., Ltd. was registered and founded in Jiaxing Port Area of Zhejiang Province, China in July 2008 with registered capital of RMB400, 000, 000.00($585, 284, 000.00). The first-phase investment of the project is RMB980, 000, 000.00($143, 400, 000.00) covering 266, 667m2 with the establishment of a set of butyl rubber equipments, and the annual capacity is 50, 000mt. The establishment is expected to be completed and put into production by the beginning of 2010. The second and third-phase of the project will be focused on the comprehensive utilization of C4 resources to form a technically advanced production base of synthetic rubber with an annual capacity of 500, 000mt. The overall investment is planned to be RMB 6 billion($878, 000, 000.00) covering an area of 666, 667m2. Zhejiang Cenway New Synthetic Materials Co., Ltd. was founded by Beijing Cenway Technologies Co., Ltd. allying other shareholders. Cenway Technologies is a high-tech company hatched from Beijing-Tsinghua Industrial Development & Research Institution --- a government-sponsored institution under the joint administration of Beijing government and Tsinghua University. The company dedicates itself to the R&D, manufacturing and sales of pharmaceuticals, intermediates and liquid dye products. Tianjin Cenway Pharmaceuticals Co., Ltd., which is exclusively-invested by Cenway Technologies, mainly focuses on R&D and manufacturing of natural plant extracts and Cephalosporin intermediate GCLE. Its production capacity and technologies have achieved internationally leading level with strong global competitiveness. Along with further development and expansion of pharmaceutical businesses, Cenway Technologies begins entering petroleum and chemical industries. By absorption and blazing new trails of foreign advanced technologies, Zhejiang Cenway has mastered a complete set of technologies of butyl rubber production, and is full of confidence for the prospect of the whole project.