[THE INVESTOR] Hanwha Total Petrochemical Co. announced on June 15 the completion of a large propane storage tank at its plant in Daesan, South Chungcheong Province.

The tank has a storage capacity of 40,000 metric tons and will be used to store propane gas. 

Hanwha Total said that the large storage tank will enable it to respond effectively to changes in raw material prices.

Liquefied petroleum gas consists mainly of propane and butane. In Korea, the gas is used for a wide range of purposes including automobile fuel.

Propane is also supplied to homes and restaurants for heating and cooking.
With the completion of the new tank, the company now has two 40,000-ton storage units at the Daesan plant. The other tank was completed in 2010 and stores butane.

By Choi He-suk (cheesuk@heraldcorp.com)