Page 42 - Plastics News April 2017

BUSINESS NEWS

Total-Hanwha JV to invest Cosmo Films to invest Rs 250-

US$450 mln in refining and cr to set up speciality polyester

petrochemicals expansion films plant

rench oil and gas company Total's South Korean joint osmo Films Limited, a manufacturer of multiple
Fventure with Hanwha will invest US$450 mln in the Ctypes of bi-axially oriented polypropylene (BOPP)
group's refining and petrochemicals platform to expand and cast polypropylene (CPP) films, is planning to
capacity to meet growing demand from China, as per invest Rs 250 crores to install a new production line
Reuters. The company said the investment will increase for speciality polyester (biaxially-oriented polyethylene
the Daesan complex's ethylene capacity by 30% to 1.4 terephthalate or BOPET) films by the third quarter of
mln tpa. Total added that the expansion of the project 2018-19.
is scheduled to be completed by mid-2019. The Daesan
refining and petrochemicals platform is a 50:50 joint The BOPET films plant, to be located in Maharashtra,
venture between the French oil and gas major and the will have a capacity of 36,000 metric tonne.The new
South Korean line, to be commissioned at the Waluj plant site in
conglomerate. Aurangabad (Maharashtra), will have a capacity of
"The additional 36,000 metric
ethylene tonne per annum
produ ct ion (MTPA). This
will meet local plant already
demand and houses BOPP
also supply lines, extrusion
the near by coating lines,
fast-growing chemical
Chinese market coating lines,
which imports a metallisers and
significant part a CPP line. The
of its ethylene requirements," Total said in a statement. new production line will complement the existing
“This project is part of our strategy to invest in world- BOPPcapacity of 200,000 MTPA and allow Cosmo Films
class integrated platforms to develop petrochemicals to offer a more comprehensive speciality product
based on competitive feedstock and targeting high-growth basket to flexible packaging, labelling, lamination and
markets. The investment reflects the strong partnership industrial applications. “Speciality BOPET is one of the
with Hanwha and will contribute to the growth of our fastest growing substrates and we anticipate a strong
Refining & Petrochemicals cash flows,” said Bernard demand for these films. This will enable us to do import
Pinatel, President Refining & Chemicals of Total. Total said substitution as well as take global market share,” said
in a statement that the additional ethylene production Pankaj Poddar, CEO,Cosmo Films Ltd.
will meet local demand and also supply the nearby fast-
growing Chinese market which imports a significant part Biaxially-oriented polyethylene terephthalate
of its ethylene requirements. Daesan is one of Total’s six (BOPET) films offer high tensile strength, chemical
world-class integrated platforms and a strategic asset for and dimensional stability, transparency, reflectivity,
Hanwha. This site which is comprised of a highly flexible gas and aroma barrier properties and electrical
condensate splitter, a competitive steam cracker and insulation.
polymers, styrene and aromatics units, generated a net
result of nearly $1 billion in 2016.

Plastics News | April 2017 42