Total JV eyes Korean petchem investment

South Korea

PARIS, April 12, 2017 – Total’s 50:50 joint venture with South Korea’s Hanwha will work to increase ethylene production capacity of the Daesan refining & petrochemicals integrated platform, the French major said on Wednesday.

In a press release, Total said that its Hanwha Total Petrochemical entity has earmarked USD 450 million for investment. This should raise ethylene production capacity to 1.4 million tonnes per year, an increase of 30%.

The work is scheduled for completion in mid-2019.

“This project is part of our strategy to invest in world-class integrated platforms to develop petrochemicals based on competitive feedstock and targeting high-growth markets,” Total’s president for refining and chemicals, Bernard Pinatel, said in a press release.

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