Total: South Korea: Daesan Complex to Develop its Polymer Capacity for Durable Applications
Total (Paris:FP) (LSE:TTA) (NYSE:TOT):
The Hanwha Total Petrochemical (HTC) joint venture(1) is
commissioning a new polypropylene line at the Daesan integrated
refining and petrochemical complex in South Korea, adding a further
60% to its production capacity, which now totals 1.1 million tons a
year. At the same time, the start--up of a fourth propane furnace
will increase ethylene production capacity by 10% to 1.5 million
tons a year.
These projects were carried out safely and successfully, and
were completed on time and on budget. They mark the culmination of
investments totaling $1.3 billion, announced in 2017 and 2018, to
expand production capacity at the Daesan complex. They also take
advantage of abundant, cost-advantaged propane feedstock from the
The new polypropylene line, with a capacity of 400,000 tons a
year, will enable Daesan to supply both the Korean market and
export markets, particularly China. It will enable the
manufacturing of high-value-added, durable goods for specialty
applications such as underfloor heating pipes and automotive parts,
helping reduce the weight of vehicles.
HTC has also launched a new polypropylene compound line(2) at
its Dongguan site in southern China, which will enable the joint
venture to develop specific grades containing recycled polymers, in
partnership with its customers, as HTC's contribution to Total's
ambition of producing 30% recycled polymers by 2030.
"The successful completion of these projects in South Korea is
an excellent illustration of our strategy of meeting growing global
demand for polymers, especially for durable applications, by
focusing investments on our world-class complexes. In the case of
Daesan, we also leverage competitively priced feedstock and
monomer-polymer integration, " said Bernard Pinatel, President of
Refining & Chemicals at Total.
About the Daesan Refining and Petrochemical Complex
Daesan is one of Total's six world-class integrated complexes
and a strategic asset for both shareholders. It comprises a
flexible condensate splitter, a competitive steam cracker and units
producing polymers, styrene and aromatics.
Hanwha Group, founded in 1952, is a global leader in a broad
range of businesses spanning the spectrum of the manufacturing,
construction, finance, services and leisure industries. Hanwha
Group consists of 80 domestic affiliates and 469 global networks,
as of December 31, 2020.
Total is a broad energy company that produces and markets fuels,
natural gas and electricity. Our 100,000 employees are committed to
better energy that is more affordable, more reliable, cleaner and
accessible to as many people as possible. Active in more than 130
countries, our ambition is to become the responsible energy
This press release, from which no legal consequences may be
drawn, is for information purposes only. The entities in which
Total SE directly or indirectly owns interests are separate legal
entities. Total SE shall not be held liable for their acts or
omissions. The terms "Total," "Total Group" and "Group" may be used
in this document for convenience. Similarly, the words "we", "us"
and "our" may also be used to refer to affiliates or to their
employees. This document may contain forward-looking information
and statements that are based on business and financial data and
assumptions made in a given business, financial, competitive and
regulatory environment. They may prove to be inaccurate in the
future and are subject to a number of risk factors. Neither Total
SE nor any of its subsidiaries or affiliates assumes any obligation
to investors or other stakeholders to update in part or in full any
forward-looking information or statement, objective or trend
contained in this document, whether as a result of new information,
future events or otherwise.
(1) A 50-50 joint venture between Total and Hanwha.
(2) Polypropylene compounds are used in the automotive industry
(interiors, bumpers and technical parts), in the electrical and
electronics industry and in household appliances.
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