Hanwha Corp. will expand its nitric acid production by 400,000 tons by 2023, the company said on April 19.
Hanwha’s Global Division will invest 190 billion won ($171 million) to build a nitric acid plant in Yeosu Industrial Complex in South Jeolla Province. When the plant is completed, nitric acid production will increase from 120,000 tons to 520,000 tons.
About 390,000 tons of production will be used as materials for deposition and cleaning of semiconductors and displays in addition to supplies for consumption.
"We are not just increasing production volume, but laying the foundation for becoming a precision chemical company," said a Hanwha official.
With this investment, Hanwha will begin its business transition to precise chemical fields such as semiconductor sanitizers, which have grown in interest since Japan's export regulations.
Hanwha Solutions, a subsidiary of Hanwha Group, announced its plan to establish a factory that produces 180,000 tons of DNT (Nitric Acid Induction Products) annually by investing 160 billion won in March.
DNT, produced by chemical reactions of nitric acid and toluene, is a raw material for TDI used in the manufacture of polyurethane in furniture and car seats. About 130,000 tons of nitric acid is needed annually to manufacture 180,000 tons of DNT.
Hanwha Corp. and Hanwha Solutions will be able to increase profitability by establishing a nitric acid value chain that leads to 'Nitric acid-DNT-TDI'. In the future, it will also start producing high-performance composite materials using nitric acid.
