Hanwha Total petchem to invest $331 MM to boost polyethylene output
12/11/2017 7:51:59 AM
Photo courtesy of Hanwha Total Petrochemical Co.
SEOUL (Reuters) — Hanwha Total Petrochemical Co Ltd said on Monday it plans to spend $331.29 MM on a new factory in South Korea to increase polyethylene output by 400 Mtpy by 2019.
The joint venture of South Korean conglomerate Hanwha Group and French oil and gas company Total SA in a statement said the factory will raise its polyethylene capacity to 1.12 MMtpy when completed by the end of 2019.
The plant will be capable of producing multiple higher-value polyethylene products enabling flexible response to demand, Hanwha Total said.
Reporting by Joyce Lee; Editing by Christopher Cushing
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