Inspectioneering
News

Total-Hanwha JV Invests $450 Million to Expand its Refining & Petrochemicals Platform

Total S.A., April 12, 2017
Hanwha Total Petrochemical, a 50/50 joint venture between Hanwha and Total, will invest to expand its Daesan refining & petrochemicals integrated platform. The planned $450 million investment will increase the site’s ethylene capacity by 30% to 1.4 million tons per year. Daesan is one of Total’s six world-class integrated platforms and a strategic asset for Hanwha. This site which is comprised of a highly flexible condensate splitter, a competitive steam cracker and polymers, styrene and aromatics units, generated a net result of nearly $1 billion in 2016. 
 
The extension will significantly increase the site’s flexibility, enabling it to process competitively priced propane feedstock which is abundantly available, notably due to the shale gas revolution in the United States. The expansion project is set to be completed by mid-2019.  The additional ethylene production will meet local demand and also supply the nearby fast-growing Chinese market which imports a significant part of its ethylene requirements.
 
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,” said Bernard Pinatel, President Refining & Chemicals of Total. “The investment reflects the strong partnership with Hanwha and will contribute to the growth of our Refining & Petrochemicals cash flows.”


Comments and Discussion

There are no comments yet.

Add a Comment

Please log in or register to participate in comments and discussions.

Interested in equipment reliability & integrity? Sign up for weekly updates.

Inspectioneering Journal

Explore over 20 years of articles written by our team of subject matter experts.

Company Directory

Find relevant products, services, and technologies.

Job Postings

Discover job opportunities that match your skillset.

Case Studies

Learn from the experience of others in the industry.

Event Calendar

Find upcoming conferences, training sessions, online events, and more.

Industry News

Stay up-to-date with the latest inspection and asset integrity management news.

Blog

Read short articles and insights authored by industry experts.

Acronyms

Commonly used asset integrity management and inspection acronyms.

Asset Intelligence Reports

Download brief primers on various asset integrity management topics.

Videos

Watch educational and informative videos directly related to your profession.

Expert Interviews

Inspectioneering's archive of interviews with industry subject matter experts.