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Total-Hanwha venture to invest $450 million on refining and petrochemicals platform

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French oil and gas company Total said on Wednesday that its South Korean joint venture with Hanwha will invest $450 million in the group's refining and petrochemicals platform to expand capacity in order to meet growing demand from China.

The company said the investment will increase the Daesan complex's ethylene capacity by 30 percent to 1.4 million tonnes per year. Ethylene is widely used in making plastics.

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