March 25, 2020
If PTTGC America and Daelim Chemical USA go forward with a world-scale petrochemical complex in the Ohio Valley, significant revenue is guaranteed to flow to schools and local government services. As part of an economic development deal between PTTGCA and local governments, the project would invest $47.5 million over 15 years in education and other community needs while also generating more than $20 million in sales tax revenue during construction.
PTTGCA and Daelim disclosed estimates of approximately 450 direct and indirect permanent jobs for the project. In addition, thousands of workers would be hired to build the plant over the four- to five-year period once it commenced.
Belmont County, Mead Township and Shadyside Schools approved Ohio Enterprise Zone Program agreements for PTTGCA today that will result in payments of $38 million to the school district over the 15-year life of the agreement. Mead Township would receive $9.5 million during the same period. Meanwhile, Belmont County is estimated to receive between $20 million and $24 million in sales tax revenue from the purchase of goods and equipment during the construction phase. The Ohio Department of Development’s Ohio Enterprise Zone Program would provide the project with a 15-year property tax exemption.
February 28, 2020
The first phase of site preparation, engineering and design work has been successfully completed, and activity on the site will be significantly reduced for the next two or three months as PTTDLM works toward finalizing project financing and supply agreements. The next phase of this project will begin closer to a final investment decision, which PTTDLM anticipates will come in the first half of 2020.
December 4, 2019
PTTGC Board Chairman Piyasvasti Amranand, CEO Dr. Kongkrapan Intarajang and fellow board members met with at the Ohio Statehouse with Governor Mike DeWine and Lieutenant Governor Jon Husted to provide them a project on the proposed Ohio Petrochemical Complex Project.
February 21, 2019
A delegation of company executives, including Daelim Industral Company Limited Chief Executive K.S. Kim, Daelim CEO and Vice Chairman Sean Kim, Daelim Chairman Haewook Lee, PTTGC America President and CEO Toasaporn Boonyapipat and PTTGC America General Manager Panod Awaiwanond visited Columbus to meet with Ohio Governor Mike DeWine, Ohio Lieutenant Governor Jon Husted and other state leaders.
December 27, 2018
The Ohio Environmental Protection Agency completed its environmental review of the proposed petrochemical complex in Dilles Bottom with the issuance of a modified wastewater discharge permit Dec. 27 and of an air permit Dec. 21.
“Ohio EPA is proud to be part of the effort to bring critical jobs to Ohio,” said Ohio EPA Director Craig W. Butler. “We have been careful to ensure this facility will not have an adverse impact on the air, water or health of the surrounding communities.”
Ohio EPA held a public information session and hearing in Belmont County for the air permit Nov. 27 and for the modified water permit Dec. 12. The agency considered all comments received before making final decisions on both permits.
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.
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 join 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 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.