GPCA: Hanwha Chemical confirms cracker project in the US
5:49 AM MST | November 21, 2013 | Natasha Alperowicz in Dubai
Hanwha Chemical Corp., (Seoul), a producer of chlor-alkalis, polyethylene and polyvinyl chloride as well as a major player in the solar energy, says it is planning to participate in a cracker project in the United States. Han-Hong Bang, president and CEO of Hanwha Chemical told delegates at today’s GPCA forum in Dubai that Hanwha is engaged in discussions in the US to construct an ethane cracker there to take advantage of cheap shale gas feedstock. Bang said the discussions are confidential and declined to reveal details about the potential partners the company is talking to.
CW has learned that the Hanwha project would make low-density polyethylene downstream from the cracker. Reports have been circulating in Korea since earlier this year that Hanwha is looking to build a cracker project in the US but this is the first time that the company’s CEO confirmed that the project is real and serious. Bang announced the plan during his GPCA presentation on “Innovation in partnerships to move downstream and create value.”