Hanwha Total expand Daesan integrated complex; invests $300 mn

Hanwha Total to expand Daesan integrated complex; invests $300 mn

6:32 AM, 12th December 2017
Daesan is one of Total’s six world-class integrated platforms and a strategic asset for both shareholders. (File photo)
Daesan is one of Total’s six world-class integrated platforms and a strategic asset for both shareholders. (File photo)

PARIS, FRANCE/ SEOUL, SOUTH KOREA: Hanwha Total Petrochemical, a 50:50 joint venture between Hanwha Group and Total SA said that it will invest more than $300 million to expand its integrated refining & petrochemicals platform located in Daesan, South Korea.

The investment will increase the site’s polyethylene capacity by more than 50 percent to 1.1 million tonnes per year by the end of 2019.

This project complements the steam cracker expansion and flexibilisation project announced earlier this year, that will notably enable it to process low-cost propane feedstock. Thus, it will allow the facility to capture margin along the full ethylene-polyethylene value chain.

Daesan is one of Total’s six world-class integrated platforms and a strategic asset for both shareholders. The site, which is included of a flexible condensate splitter, a competitive steam cracker and polymers, styrene and aromatics, generated a net result of nearly $1 billion in 2016.

Hanwha Total Petrochemical will use the state-of-the-art advanced double loop technology licensed by Total and Chevron Phillips Chemical Company, which will enable the production of a wide range of high-end speciality polyethylenes.

The additional production of polyethylene, the most widely used polymer, will supply the local South Korean demand and also the fast-growing Chinese market. 

“After the expansion of the steam cracker announced earlier this year, this project will allow us to capture margins across the full value chain at this giant integrated platform. We will provide the fast-growing Asian market with high-added-value polymers by leveraging our differentiating technology,” said Bernard Pinatel, president refining & chemicals, Total.

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