Today, contractors working for FirstEnergy Corp. are demolishing the shuttered power plant to make room for the massive petrochemical complex, which would cover nearly 500 acres between the Ohio River and Ohio 7. Instead of watching pipelines ship lucrative Marcellus and Utica shale ethane to cracker plants along the Gulf Coast or in Canada, the Upper Ohio Valley could see a manufacturing renaissance if PTT Global Chemical proceeds with its planned multibillion-dollar petrochemical complex.
A final investment decision is expected by the end of this year.
“We have made great progress over the past year,” Belmont County Commissioner Mark Thomas said. “We have held numerous meetings with the company leaders and their representatives. Everyone is working collaboratively to make sure we have everything in place.”
Toasaporn Boonyapipat, president and CEO of PTT Global Chemical America, agreed with Thomas in terms of the cooperation and communication.
“A slowdown in drilling and decrease in oil prices will pose an opportunity for the project, as construction costs will likely fall, not to mention construction companies are likely to be more competitive in securing major projects as well,” he said. “PTT Global Chemical America’s decision will be based upon the cost and operational analysis we receive from the firms performing the front-end engineering design.”Click here to read more.
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