EID’s prediction that all eyes will be on Belmont County in 2018 is already coming true. Early this morning Thailand-based PTT Global Chemical (PTTGC) America announced that it promises to have a “significant update” in “early 2018” on the proposed $6 billion world-class petrochemical complex in Belmont County, Ohio. From the press release,
“PTTGC America will have a significant update that will demonstrate momentum for this project early in 2018. We thank all Ohio and Belmont County partners for their support, and we wish you a happy holiday season.”
In October, the company signed a Memorandum of Understanding with JobsOhio where both parties agreed to “jointly establish a community infrastructure development plan to enhance the well-being and quality of life for the communities in the area surrounding” the plant.
To date, a total investment made possible from revenue generated by Ohio liquor sales and private investment by PTTCG totals approximately $130 million invested over the past 33 months to bring a multi-billion ethane cracker to Ohio. Although a final decision to build the plant has not been announced, it’s safe to say that Ohio is “all-in” to support the project and the game-changer that will come as a result from the manufacturing of petrochemical products along the Ohio River.
If a look at the development of the Monaca, Pa., Shell ethane cracker is any indicator of things to come in Ohio, we can be optimistic that PTTGC is well on its way to moving the project forward. According to the Pittsburgh Post-Gazette, Royal Dutch Shell announced it would consider building an ethane cracker in 2011, and five years later the company announced a final decision had been made. Looking at Shell’s timeline, it’s clear that the PTTGC timeline is strikingly similar and continues to appear on track.
To view a PDF of the PTT global ethane cracker timeline, click here.