MOU Establishes collaboration for development program to improve quality of life for communities in Belmont County, Ohio
October 3, 2017
Washington, D.C. – Mr. Supattanapong Punmeechaow, President and Chief Executive Officer of PTT Global Chemical Public Company Limited, Thailand’s largest integrated petrochemical company, joined a Thai business delegation accompanying Thailand’s Prime Minister Prayut Chan-o-cha during his official visit to the United States.
During the visit, Mr. Punmeechaow attended the signing ceremony of a Memorandum of Understanding between Mr. Toasaporn Boonyapipat, President and Chief Executive Officer of PTTGC America, and Mr. John Minor, President and Chief Investment Officer of JobsOhio, an investment promotion agency of the State of Ohio. Under the MOU, the two parties will jointly establish a community infrastructure development plan to enhance the well-being and quality of life for the communities in the area surrounding PTTGC America’s planned petrochemical complex in Belmont County, Ohio, after the Final Investment Decision.
PTTGC America, a subsidiary company of Thailand’s PTT Global Chemical Public Company Limited, continues to make significant progress on the petrochemical complex development project. The company has conducted the front-end engineering design for the complex over the past two years to help determine the project’s feasibility. At this stage, an economic evaluation and further engineering work are underway. PTTGC America considers this process to be a critical pathway for the project’s success and is committing the resources needed to ensure that all technical and economic criteria are met before making its final investment decision for the project.
PTTGC America’s substantial investment in the petrochemical complex project will create thousands of construction jobs, provide hundreds of full-time jobs, and bring sustainable socio-economic benefits to nearby communities, the surrounding region, and the State of Ohio.