The expansion is a $450 million investment.
Hanwha Total Petrochemical, a partnership programme between Hanwha and Total, is planning to expand its Daesan refining and petrochemicals integrated platform which will increase the site’s ethylene capacity to 1.4 million tons per year. The expansion is a $450 million investment.
The expansion will enable the company to process propane feedstock which is available in plenty due to the shale gas revolution in the United States. The project is expected to be complete by mid-2019. The ethylene produced will meet the demand of the local market and also nearby markets.
Bernard Pinatel, President Refining & Chemicals of Total said, “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.” PWKD14042017