Total-Hanwha joint venture is upgrading its petrochemical plant in a $450mln investment

A view from Daesan plant (courtesy of businesskorea.co.kr)

A view from Daesan plant (courtesy of businesskorea.co.kr)

Hanwha Total Petrochemical, a 50/50 joint venture between Hanwha and Total, is going to expand its Daesan refining & petrochemicals integrated platform. The planned $450 million investment will increase the site’s ethylene capacity by 30%, to 1.4 million tons per year.
Daesan is one of Total’s six world-class integrated platforms and a strategic asset for Hanwha, and it is comprised of a highly flexible condensate splitter, a 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 the United States. 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.