Hanchang Signs Export Contract for Pyrolysis Facility Worth 166.1 Billion KRW to Russia
[Asia Economy Reporter Jang Hyowon] Hanchang announced on the 28th that its subsidiary Hanchang Green Holdings has signed a contract worth a total of 140 million USD (approximately 166.1 billion KRW) with Russian power equipment specialist company Intertech Electro (JSC INTERTECH ELECTRO) for the supply and technology transfer of waste pyrolysis and liquefaction facilities.
Intertech Electro visited Korea directly in June to conduct on-site inspections and technical consultations on pyrolysis with Hanchang Green Holdings. A company official stated, “We officially received a contract proposal after passing the sample test standards for pyrolysis oil from Hanchang Green Holdings,” adding, “After several months of remote practical consultations and adjustments to contract terms, we successfully finalized the contract through a video remote meeting.”
Through this contract, Hanchang Green Holdings will supply pyrolysis facilities and transfer technology across Russia for the next 20 years via Intertech Electro. They also signed a separate pilot contract worth 2 million USD (approximately 2.4 billion KRW) to install the VESTA-10 facility, which is 100% produced with their own technology, at the business site in Tyumen Oblast and Tyumen City, Russia. They have immediately started manufacturing the equipment and plan to ship it in the first half of next year. The contract includes a condition to receive a deposit of about 1.2 million USD (approximately 1.4 billion KRW) after signing. In Kurgan City, Kurganskaya Oblast, located near the business site, parts production will be carried out as part of the technology transfer.
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Recently, Hanchang officially declared its ESG management and its entry into the pyrolysis business, which processes plastics and other synthetic resins while producing diesel oil through pyrolysis. The company explained that this export achievement establishes them as the first domestic pyrolysis technology company to enter the global market.
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