March 12, 2018
Joined by PTTGC executives, Governor John R. Kasich welcomed Daelim Industrial to Ohio. South Korean-based Daelim, through its American subsidiary, is joining with PTTGC’s American subsidiary on a feasibility study for a petrochemical ethane cracker complex in Belmont County that will transform the Ohio Valley and the statewide economy. Although a final investment decision on the project has not yet been made, PTTGC America already has invested more than $100 million on the project in preparation for the proposed plan.
“It’s great to see these two world-class companies coming together to develop an exciting 21st Century industry that will dramatically transform Ohio,” Kasich said. “Building this massive ethane cracker plant here will be a game changer, not only for Eastern Ohio, but for the entire state as it will create so many new opportunities for economic development. Today’s announcement is an encouraging step forward for this project and that’s good news for Ohio families.”
The collaboration with Daelim brings plans for a larger plant, more jobs and more investment than what was originally anticipated when PTTGC America first announced its result of feasibility study in 2015. Production is now estimated at 1.5 million metric tons per year, which are at least 500,000 metric tons per year more than was previously anticipated. The plant will result in more capital investment and more jobs.
“The investment plans include significantly more ethylene output at a larger facility that would have a greater economic impact throughout the state for decades to come,” said John Minor, JobsOhio president and chief Investment officer. “Ohio has the energy resources and attractive business climate, and now this potential joint venture between two world-class companies.”
PTTGC America and Daelim also are on track to acquire the property needed for the project. Once the companies close on the purchase of a 300-acre parcel, targeting in April, the companies will own almost 500 acres of needed land to build the complex. PTTGC America and Daelim hope to make a final investment decision on the project by the end of the year.
January 30, 2018
PTTGC America’s Board of Directors approved the execution of an agreement between PTTGCA and a subsidiary of Daelim Industrial Co., Ltd., a leading Korean construction and chemical company, to joint PTTGCA’s feasibility study and secure funding for the development of a petrochemical complex in Belmont County, Ohio. If constructed, the project will be capable of producing ethylene and its derivative with 1.5 metric tons per annum.
December 21, 2017
PTTGC America disclosed there will be a significant project update early in 2018 that will demonstrate positive momentum.
February 14, 2017
Toasaporn Boonyapipat, president and CEO of PTTGC America, announced the company anticipates reaching a final investment decision in late 2017.
February 9-10, 2016
A delegation of company executives, including Kongkrapan Intarajang, executive vice president for international business operations for PTTGC; Toasaporn Boonyapipat, president and CEO of PTTGC America; Sermsak Sriyaphai, executive advisor of PTTGC America; and Panod Awaiwanond, general manager of PTTGC America, visited Columbus to meet with Ohio Lt. Gov. Mary Taylor and other state leaders.
February 8-9, 2016
A delegation of company executives, including Kongkrapan Intarajang, executive vice president for international business operations for PTTGC; Toasaporn Boonyapipat, president and CEO of PTTGC America; Sermsak Sriyaphai, executive advisor of PTTGC America; and Panod Awaiwanond, general manager of PTTGC America, visited the project site in Mead Township and met with community leaders from both Belmont County and northern West Virginia.
November 12, 2015
INEOS Technologies announced that it has licensed its Innovene™ Process for the manufacture of medium-density and high-density polyethylene to PTTGC America at its proposed petrochemical complex in Belmont County.
October 28, 2015
Technip SA announced that it has entered into a contract to supply its proprietary ethylene technology and PDP(1) to PTTGC America for the proposed petrochemical complex in Belmont County.
September 3, 2015
PTT Global Chemical Public Company Limited President and CEO Supattanapong Punmeechaow met with Gov. John Kasich and other state and local officials at the Ohio Statehouse to announce that PTTGC America will invest $100 million to conduct detailed front-end engineering design for a world-scale petrochemical complex on the west bank of the Ohio River in Belmont County.
September 3, 2015
PTTGC America confirmed that contracts have been signed by Fluor Corporation and Bechtel Enterprises Holding Inc., two world-class engineering, procurement and construction firms that will separately conduct their respective front-end engineering design work.
April 22, 2015
Gov. John R. Kasich announced that PTTGC America has selected a site in Belmont County for the possible construction of a world-scale petrochemical complex.