Hanwha Global Division to Establish Low-Carbon Ammonia Facility in the US with UK Ineos
Commercial Operation in 2030
Hanwha Corporation's Global Division announced on the 29th that it has signed a basic agreement with INEOS Nitriles to conduct a feasibility study for establishing a low-carbon ammonia facility in the United States.
INEOS Nitriles is a subsidiary of the UK-based global integrated chemical company INEOS Group and is the world's largest manufacturer of acrylonitrile (a raw material for synthetic resin). It has major production facilities in Texas and Ohio, USA, with an annual production capacity of approximately 1.3 million tons.
This collaboration was initiated in response to the global increase in demand for low-carbon ammonia. The two companies plan to review the feasibility of establishing a low-carbon ammonia facility in the United States with an annual production capacity exceeding 1 million tons. The final investment decision based on the review results is expected in 2026, with commercial operations starting in 2030.
Yang Ki-won, CEO of Hanwha Global, said, "This collaboration aims to strengthen our strategic position in the global ammonia market and respond to the growing global demand for clean ammonia solutions." He added, "The production of clean nitric acid and industrial materials using clean ammonia aligns with our eco-friendly management goals, such as RE100 (100% renewable energy usage). This technological advancement will be a significant turning point in achieving Hanwha's vision for a sustainable future."
Hot Picks Today
"Could I Also Receive 370 Billion Won?"... No Limit on 'Stock Manipulation Whistleblower Rewards' Starting the 26th
- Samsung Electronics Labor-Management Reach Agreement, General Strike Postponed... "Deficit-Business Unit Allocation Deferred for One Year"
- "From a 70 Million Won Loss to a 350 Million Won Profit with Samsung and SK hynix"... 'Stock Jackpot' Grandfather Gains Attention
- "Stocks Are Not Taxed, but Annual Crypto Gains Over 2.5 Million Won to Be Taxed Next Year... Investors Push Back"
- "Who Is Visiting Japan These Days?" The Once-Crowded Tourist Spots Empty Out... What's Happening?
Hans Kazier, CEO of INEOS Nitriles, stated, "Through this project, low-carbon ammonia will secure leadership in supplying low-carbon acrylonitrile, a key raw material, and contribute to finding solutions to the environmental challenges the world faces." He added, "It will play an important role in achieving the carbon emission reduction targets for 2030 and the goal of net-zero greenhouse gas emissions by 2050."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
