A Bridgehead into the Chinese Market
Located 145 kilometers from Seoul and just 400 kilometers from China, the Daesan refining and petrochemical complex is a world-class facility with around 1,400 employees, providing us with a strong strategic base in Asia. The plant manufactures:
- Polypropylene and polyethylene, made from monomers produced via steam cracking.
- Petroleum products such as jet fuel, gasoline and, soon, diesel.
The site serves the domestic South Korean market, as well as the rest of the region: more than half of the output is exported to the rest of Asia, primarily to China. The styrene serves as a feedstock for the Total Petrochemicals plant in Foshan, which produces 200,000 tons of polystyrene a year.
A Ten-Year Partnership
The agreement signed in December 2011 was a further step in the facility’s gradual ramp-up, which has taken place over a period of roughly ten years.
1991: Completion of the construction phase for the Daesan refining and petrochemical complex.
2005-2007: A $600 million investment project to increase steam cracker, styrene unit and paraxylene unit capacity and build a new polypropylene line.
2012-2014: A further investment of nearly $2 billion to add:
- A new condensate splitter that produces naphtha, jet fuel and diesel..
- A second aromatics unit to produce paraxylene and benzene.
- A new ethylene vinyl acetate (EVA) copolymer unit that produces ethylene and vinyl acetate copolymers, which are used in the manufacture of foam for the footwear industry, packaging films and films to protect solar panels.
AT A GLANCE
Located in South Korea, 145 kilometers from Seoul and 400 kilometers from China.
Around 1,400 employees.
15 units covering a surface area of around 3.3 million square meters.