Total, Hanwha JV invests $450 mn expand Daesan complex

Total, Hanwha JV invests $450 mn to expand Daesan complex

11:14 AM, 12th April 2017
Total, Hanwha logo

PARIS, FRANCE: Hanwha Total Petrochemical, a 50/50 joint venture between Hanwha Group and Total SA, said that it will invest $450 million to expand its Daesan (South Korea) refining & petrochemicals integrated platform.

The planned investment will increase the site’s ethylene capacity by 30 percent to 1.4 million tonnes per year.

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

The extension will significantly increase the site’s flexibility, enabling it to process competitively priced propane feedstock which is abundantly available, notably due to the shale gas revolution in US. The expansion project is set to be completed by mid-2019.

The additional ethylene production will meet local demand and also supply the nearby fast-growing Chinese market which imports a significant part of its ethylene requirements.

“This project is part of our strategy to invest in world-class integrated platforms to develop petrochemicals based on competitive feedstock and targeting high-growth markets. The investment reflects the strong partnership with Hanwha and will contribute to the growth of our refining & petrochemicals cash flows,” said Bernard Pinatel, president refining & chemicals of Total.

© Worldofchemicals News 



Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News

PPG acquires 40 pc stake in Taiwan Chlorine Industries

PITTSBURGH, US: PPG Industries (PPG) said that it has acquired a 40 percent ownership interest in Taiwan Chlorine Industries Ltd (TCI) from China Petr ...

Read more
OMV invests €110 mn in Schwechat refinery, Austria

VIENNA, AUSTRIA: OMV AG, an international integrated oil and gas company is investing around €110 mn in its Schwechat site, Vienna, Austria. This ...

Read more
Developing solar-powered catalysts to produce nitrogen fertilisers

STANFORD, US: Engineers at Stanford University, researchers at SLAC National Accelerator Laboratory and SUNCAT are leading a multi-year effort to prod ...

Read more
Archroma unveils deposit control innovation for papermaking

REINACH, SWITZERLAND: Archroma said that it has launched Cartaspers PLH liquid, a single-product breakthrough enabling easy and highly effective contr ...

Read more
Mining bacterial genomes for hidden pharmaceutical treasure

CHAMPAIGN, US: In the fight against disease, many weapons in the medicinal arsenal have been plundered from bacteria themselves. Using CRISPR-Cas9 gen ...

Read more
Recipharm appoints new chief financial officer

STOCKHOLM, SWEDEN: Recipharm AB said that it has appointed Henrik Stenqvist as the company’s new executive vice president and chief financial of ...

Read more uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X