Hanwha Total Petrochemical to invest $300m in South Korean facility

Hanwha Total Petrochemical is set to invest more than $300m to expand its integrated refining and petrochemicals platform in Daesan, South Korea.

The company is a 50/50 joint venture between South Korean conglomerate Hanwha and French energy and chemical company Total.

The investment will enable the company to boost the site’s polyethylene capacity by more than 50% to 1.1 million tonnes per annum by the end of 2019.

Hanwha Total Petrochemical noted that the new project will add to the steam cracker expansion and flexibilisation project announced this year that will allow it to process low-cost propane feedstock.

Following the expansion, the facility will be able to capture margin along the full ethylene-polyethylene value chain.

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