Total: Hanwha Total JV To Expand Daesan Refining & Petrochemicals Platform

(RTTNews) - Total (TTA.L, TOT) announced 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. The extension will significantly increase the site's flexibility, enabling it to process competitively priced propane feedstock. The expansion project is set to be completed by mid-2019.