Hanwha Total as part of its effort to beef up its market presence in the core business areas, including ethylene and propylene plans to make an investment of 500 billion won to ramp up petrochemical production capacities.
Hanwha Total is a joint venture owned 50:50 by Hanwha General Chemical and Total of France.
Hanwha Total held a board of directors meeting on April 12 and voted to ramp up the facilities such as the naphtha cracking center side gas cracker and the gas turbine generator at its Daesan plant. This would require an investment of 539.5 billion won.
Hanwha Total officials said that the expansion of these capacities would be completed by 2019. Once the expansion is completed, they expect their annual sales to be increased by 590 billion won.
These expansion plans would contribute to increasing Hanwha Total's annual output of ethylene by 310,000 tons and propylene by 130,000 tons.
Hanwha Total's annual output of ethylene and propylene would be increased up to 1.4 million and 1.06 million tons, respectively.
Since its founding in 1988, Hanwha Total Petrochemical has tirelessly led South Korea’s petrochemical industry with technology innovation and global expansion. Hanwha Total Petrochemical operates a large-scale energy and petrochemical facility comprising 18 separate plants in the Daesan Petrochemical Complex in South Korea.