Hanwha Global has reached a basic agreement with INEOS of the UK to establish low-carbon ammonia production.

Hanwha Global has reached a basic agreement with INEOS of the UK to establish low-carbon ammonia production.: COMPANY / Reporter Kim Jisun / 2024-05-29 03:15:34

[Alpha Biz= Reporter Kim Jisun] Hanwha Global Division (hereafter Hanwha Global) announced on the 28th that it has signed a basic agreement with INEOS Nitriles, a UK-based chemical manufacturer, to assess the feasibility of establishing low-carbon ammonia facilities in the United States.

INEOS Nitriles is a subsidiary of the British chemical company INEOS Group, and it holds the world's largest manufacturing capacity for acrylonitrile, which is used in the production of synthetic resins. The primary production facilities for acrylonitrile, which uses low-carbon ammonia as a key raw material, are located in Texas and Ohio, USA, with an annual production capacity of approximately 1.3 million tons.

Under this agreement, the two companies plan to assess the feasibility of establishing low-carbon ammonia facilities in the US with an annual production capacity of over 1 million tons. Hanwha Global expects the final investment decision to be made by 2026, with commercial operations commencing by 2030 if the project proceeds.