[THE INVESTOR] Hanwha Total Petrochemicals, a 50:50 joint venture between Hanwha Group and Total, said on Dec. 11 that it will invest 360 billion won (US$329 million) to build a new polyethylene facility in Korea.
The plant in Daesan, some 120 kilometers south of Seoul, will have an annual capacity of 49 million tons of polyethylene, Hanwha Total said. Polyethylene products are used in automotive, utilities, construction and other industries.
The company said its annual production of polyethylene is forecast to reach 1.12 million tons in 2019 when the new plant will be up and running.
By Alex Lee and newswires (
alexlee@heraldcorp.com)