Total is consolidating its positions in petrochemicals in Asia with a new expansion and upgrading project for the Daesan complex in South Korea, which the Group owns with Samsung as part of the Samsung Total Petrochemicals 50:50 joint venture. AT an estimated cost of US$1.8 bln, the project calls for the construction of a second aromatics unit and an ethylene-vinyl acetate (EVA) copolymer unit at the Daesan petrochemical complex. The new aromatics unit will have a production capacity of around 1 million metric tpa of paraxylene and 420,000 tpa of benzene will be completed by September 2014. Paraxylene is used to manufacture polyester, while benzene is used to produce petrochemical products such as styrene. With the completion of the aromatics unit in 2014 and the upgrade of existing paraxylene capacity in 2012, total paraxylene production capacity will be increased to 1.76 million metric tons. The new EVA unit will produce 240,000 metric tpa of ethylene-vinyl acetate copolymers. This resin is used in products such as electrical cables, adhesives and solar panels. Environmentally friendly and versatile, EVA is expected to see continued growth in demand.
"This investment project in partnership with Samsung is aligned with Total’s strategy of expanding in growth markets. It gives us the strong base we need to maintain our position as a leading supplier of value-added products to meet demand in Asia, especially China,” said Patrick Pouyanné, President of Total’s Refining - Chemicals business. “We are pursuing our strategy of focusing our spending on our most efficient integrated platforms, such as the Daesan complex.”