03 Dec – Hanwha Total plans to build new PP plant in South Korea
According to an official press release, Hanwha Total Petrochemical, a 50/50 joint venture between Total and Hanwha Group, is planning to invest around $500 million to further expand its integrated refining and petrochemical complex in Daesan, South Korea.
By the end of 2020, the planned investment will increase the company’s PP capacity by around 60% and its ethylene capacity by 10% to 1.1 million tons/year and 1.5 million tons/year, respectively.
The company stated in the press release that the new project complemented its ongoing investments. Amounting to nearly $750 million, the ongoing investments are planned to increase the complex’s ethylene production capacity by 30% to 1.4 million tons/year by the middle of 2019 and expand its PE production capacity by 50% to 1.1 million tons/year by the end of 2019.