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Firm pays back $20M, insists petrochemical project viable

Ethane Future Appalachia
Posted at 8:03 PM, Mar 30, 2022
and last updated 2022-03-30 20:03:50-04

CLEVELAND — The U.S. subsidiary of a Thailand-based petrochemical giant has repaid Ohio's private economic development office $20 million after it failed to make an investment decision in 2020 on a proposed petrochemical plant in the state.

Spokespersons for PTT Global Chemical America and JobsOhio insisted this week the company still plans to build the multi-billion dollar plant in southeast Ohio's Belmont County once it has found a finance partner.

JobsOhio spokesperson Matt Englehart says the pandemic delayed PTTGCA's final investment decision.

PTTGCA spokesperson Dan Williamson says the company has spent $300 million thus far on a facility that will produce raw materials for products that range from plastic bottles to vehicle parts.