Total-Hanwha JV plans expansion in refining, petchem units
by ChemOrbis Editorial Team - content@chemorbis.com
According to Reuters, French oil and gas company Total, through its joint venture with Hanwha, will make an investment of $450 million in the group’s refining and petrochemical facilities in South Korea.
The investment aims to expand the increase of the Daesan complex’s ethylene production capacity by 30% to 1.4 million tons/year in order to meet the local demand and supply Chinese market.
The expansion is expected to be completed by mid-2019, the reports revealed.
The Daesan refining and petrochemical facility is a 50/50 joint venture between Total and Hanwha, which posted a net profit of $1 billion last year.
The investment aims to expand the increase of the Daesan complex’s ethylene production capacity by 30% to 1.4 million tons/year in order to meet the local demand and supply Chinese market.
The expansion is expected to be completed by mid-2019, the reports revealed.
The Daesan refining and petrochemical facility is a 50/50 joint venture between Total and Hanwha, which posted a net profit of $1 billion last year.
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