South Korea: Petrochemicals Hanwha Total Increases Ethylene Production by Investing 450 Million Dollars
The Daesan integrated refining and petrochemicals complex has begun its new ethylene production capacities in South Korea. Now, the complex can produce 1.4 million tonnes per year of ethylene, an increase of 30 %.
Paris/France – The Daesan integrated refining and petrochemicals complex in South Korea, owned by Hanwha Total Petrochemical, has started its new ethylene production capacities. With a 450 million dollar investment, the site can now produce 1.4 million tonnes per year of ethylene, an increase of 30 %.
This project was launched in April 2017 and is the first in a series of three at the complex. More than 300 million dollars are being invested to expand polyethylene production capacity by 50 % to 1.1 million tonnes per year by the end of 2019. Also, nearly 500 million dollars are being invested to increase polypropylene production capacity by close to 60 % to 1.1 million tonens per year by 2021.
The three projects take advantage of abundant, cost-advantaged propane feedstock from the shale gas revolution in the United States. With these investments, the Daesan facility will be in a position to capture margins across the ethylene-polyethylene and propylene-polypropylene value chains. The additional production capacity will help meet the rapidly growing Asian demand.
“These investments and the successful start-up of the first project reflect our strategy of meeting growing global demand for petrochemicals by channeling our investments into our world-class complexes and leveraging cost-advantaged feedstock” said Bernard Pinatel, President, Refining & Chemicals, Total.