Hanchang's First Overseas Export of Pyrolysis Oil Plant... "Signal for Global Market Entry"

[Asia Economy Reporter Jang Hyowon] Hanchang has fired the starting shot for pioneering the global market as exports of pyrolysis petrochemical plants to Russia are in full swing.

On the 14th, Hanchang announced that the advance payment for the supply contract of waste plastic pyrolysis equipment, signed by its subsidiary Hanchang Green Holdings with Russian power equipment specialist ‘Intertechelectro’, has been completed. Accordingly, production of the pyrolysis plant for Russia is set to begin.

At the end of last year, Hanchang signed a pilot equipment supply contract with Intertechelectro to supply the waste plastic pyrolysis equipment ‘VESTA-10’ worth 2 million USD (approximately 2.6 billion KRW).

With 55% of the total payment of about 2.6 billion KRW, amounting to 1.5 billion KRW, already paid, Hanchang will start manufacturing the pyrolysis plant and plans to complete supply and installation by February next year. The remaining balance of 1.1 billion KRW will be settled after installation is completed in Tyumen, Russia.

Starting with this export, momentum is expected to build for technology transfer and the promotion of waste pyrolysis petrochemical plant supply contracts worth a total of 140 million USD (approximately 180 billion KRW) with Russia.

Since opening a specialized pyrolysis plant manufacturing factory in Gunsan last June, Hanchang expects to be able to supply large-scale equipment orders without disruption.

A company official said, “Our Russian partner has actively taken steps for rapid supply,” adding, “We are currently negotiating the purchase of VESTA-10 equipment through MOUs with several domestic and international companies, so we expect visible results in pyrolysis plant sales starting from the third quarter.”

He continued, “With the completion ceremony of the marine waste chemical recycling Jindo plant scheduled for August, we will be able to demonstrate Hanchang’s technological capabilities through the production of high-quality refined oil.”

This content was produced with the assistance of AI translation services.