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Total: investment project in South Korea

(CercleFinance.com) - Total has announced that Hanwha Total Petrochemical, its 50/50 joint venture with Hanwha, will invest over 300 million dollars to further develop its integrated petrochemicals-refining platform in Daesan, South Korea.

This investment will increase the site's polyethylene production capacity by over 50%, to reach 1.1 million tonnes per year by the end of 2019, thus fueling South Korean demand and the rapidly growing Chinese market.

Comprised of a flexible condensate splitter, a powerful steam cracker and units producing polymers, styrene, and aromatics, the Daesan complex generated net income of nearly 1 billion dollars in 2016.

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