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Hanwha Total to invest $332M for new PE plant

Collected: 2017.12.12

Distributed: 2017.12.13

Source: Go Direct

South Korea’s Hanwha Total announced on Monday it will invest 362 billion won ($332 million) to build a new polyethylene plant in its roadmap to realize the economies of scale necessary to stay competitive on the global synthetic resin market.

The new PE plant to be built in Daesan, Chungnam Province, will have a production capacity of 400,000 tons a year once operational, bringing the company’s total PE annual output to 1.12 million tons.

Hanwha Total now owned by Hanwha Group was established as a 50-50 joint venture between Samsung Group and France’s Total in 1988. Samsung Group sold its interest in the company to Hanwha in February 2015.

The latest investment is a follow-up capex program to Hanwha Total’s 539.5 billion won project to upgrade its ethylene production facilities announced last April.

An additional output of 310,000 tons of ethylene will be injected as feed chemicals into the new PE plant, according to a source.

New processing technology and production systems called ADL (Advanced Double Loop) will be applied to the new plant to roll out high value PE products used to make pipe and fuel tank materials such as high performance metallocene polyethylene and high density polyethylene.

By Kang Doo-soon and Minu Kim

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