September 17, 2019 / 6:36 AM / a month ago

Total starts expanded ethylene capacity at South Korea plant

FILE PHOTO: The logo of Total is seen on top of a building in Rueil-Malmaison, France, August 17, 2019. REUTERS/Charles Platiau/File Photo

PARIS (Reuters) - French energy group Total SA (TOTF.PA) said it had started production at the expanded ethylene capacity at its plant in Daesan, South Korea, creating higher output to meet growing global petrochemical demand.

The site, owned by Hanwha Total Petrochemical, will produce 1.4 million tonnes of ethylene per year, representing an increase of 30% to its previous production capacity, Total said in a statement. Total and its South Korean partner Hanwha have invested $450 million in the site.

“These investments and today’s successful start-up of the first project reflect our strategy of meeting growing global demand for petrochemicals by channelling our investments into our world-class complexes and leveraging cost-advantaged feedstock,” Bernard Pinatel, president of Total’s Refining & Chemicals arm, said in the statement.

Reporting by Sudip Kar-Gupta in Paris; editing by Christian Schmollinger

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