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Hanwha Total Petrochemical to invest USD500m in Daesan facility

December 07/2018

MOSCOW (MRC) -- Hanwha Total Petrochemical is investing approximately USD500m to further expand its Daesan integrated refining and petrochemical complex in South Korea, as per Chemicals-technology.

The company operates as a 50/50 joint venture (JV) between Total and Hanwha. The planned investment is expected to increase annual polypropylene capacity by almost 60% to 1.1 million tonnes and ethylene capacity by 10% to 1.5 million tonnes by the end of 2020.

This latest project is part of a series of ongoing investments currently totalling USD750m. The expanded plant will use propane feedstock as a raw material to produce ethylene and polyethylene. The investment will enable Daesan to capture margins across the propylene-polypropylene value chain.

This new investment in Daesan is fully in line with our strategy of growth in petrochemicals to meet global demand."
Hanwha Total Petrochemicals additional polymer production will help meet local demand and supply the fast-growing market in Asia.

Total Refining & Chemicals president Bernard Pinatel said: "This new investment in Daesan is fully in line with our strategy of growth in petrochemicals to meet global demand, focusing investments on our world-class facilities and leveraging competitively priced feedstock.

"This polypropylene project complements our offering of high-value-added polymers to the fast-growing Asian market."

The Daesan refining and petrochemical complex is one of Totals six integrated complexes and houses a flexible condensate splitter, a steam cracker and units that produce polymers, styrene and aromatics.


mrcplast.com
Author:Anna Larionova
Tags:PP, PE, Hanwha Corporation, Hanwha Total.
Category:General News
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