South Korea: Hanwha Total Petrochemical Invests to Expand Its Polymer Production
11 Décembre 2017 - 8:15AM
Business Wire
Regulatory News:
Hanwha Total Petrochemical, a 50/50 joint venture between Hanwha
and Total (Paris:FP) (LSE:TTA) (NYSE:TOT), will invest more than
$300 Million to expand its integrated refining & petrochemicals
platform located in Daesan, South Korea. The investment will
increase the site’s polyethylene capacity by more than 50% to 1.1
million tons per year by the end of 2019. This project complements
the steam cracker expansion and flexibilisation project announced
earlier this year, that will notably enable it to process low-cost
propane feedstock. Thus, it will allow the facility to capture
margin along the full ethylene-polyethylene value chain.
Daesan is one of Total’s six world-class integrated platforms
and a strategic asset for both shareholders. The site, which is
comprised of a flexible condensate splitter, a competitive steam
cracker and polymers, styrene and aromatics, generated a net result
of nearly $1 billion in 2016.
Hanwha Total Petrochemical will use the state-of-the-art
Advanced Double Loop technology licensed by Total and Chevron
Phillips Chemical Company, which will enable the production of a
wide range of high-end specialty polyethylenes.
The additional production of polyethylene, the most widely used
polymer, will supply the local South Korean demand and also the
fast-growing Chinese market.
“After the expansion of the steam cracker announced earlier this
year, this project will allow us to capture margins across the full
value chain at this giant integrated platform”, said Bernard
Pinatel, President Refining & Chemicals of Total. “We will
provide the fast-growing Asian market with high-added-value
polymers by leveraging our differentiating technology.”
About Hanwha
Hanwha Group, founded in 1952, is a global leader in a broad
range of business spanning the spectrum of manufacturing,
construction, finance, services and leisure industries. Hanwha
Group consists of 56 domestic affiliates and 226 global networks,
as of June 2016.
About Total
Total is a global integrated energy producer and provider, a
leading international oil and gas company, a major player in
low-carbon energies. Our 98,000 employees are committed to better
energy that is safer, cleaner, more efficient, more innovative and
accessible to as many people as possible. As a responsible
corporate citizen, we focus on ensuring that our operations in more
than 130 countries worldwide consistently deliver economic, social
and environmental benefits.
* * * * *
Cautionary note
This press release, from which no legal consequences may be
drawn, is for information purposes only. The entities in which
TOTAL S.A. directly or indirectly owns investments are separate
legal entities. TOTAL S.A. has no liability for their acts or
omissions. In this document, the terms “Total” and “Total Group”
are sometimes used for convenience where general references are
made to TOTAL S.A. and/or its subsidiaries. Likewise, the words
“we”, “us” and “our” may also be used to refer to subsidiaries in
general or to those who work for them.
This document may contain forward-looking information and
statements that are based on a number of economic data and
assumptions made in a given economic, competitive and regulatory
environment. They may prove to be inaccurate in the future and are
subject to a number of risk factors. Neither TOTAL S.A. nor any of
its subsidiaries assumes any obligation to update publicly any
forward-looking information or statement, objectives or trends
contained in this document whether as a result of new information,
future events or otherwise.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20171210005154/en/
Total:Media Relations:+33 1 47 44 46
99presse@total.com@TotalPressorInvestor Relations:+44 (0)207 719
7962ir@total.com
TotalEnergies (EU:TTE)
Graphique Historique de l'Action
De Mar 2024 à Avr 2024
TotalEnergies (EU:TTE)
Graphique Historique de l'Action
De Avr 2023 à Avr 2024