Total-Hanwha JV to invest $450 mn for expansion of South Korean refinery

Hanwha Total Petrochemical, a 50:50 joint venture between Hanwha and Total, will invest $450 million to expand its Daesan refining & petrochemicals integrated platform in South Korea. The planned investment will increase the site’s ethylene capacity by 30 percent to 1.4 million tonnes per annum.

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