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Wednesday, February 22, 2017

Decision Delayed on Belmont County Cracker Plant

From Business Journal Daily:
PTTGC America, the Thailand-based petrochemicals giant considering building a $5.7 billion ethane cracker plant in Belmont County, today announced it would postpone its decision on whether to move forward with the project.

The final investment decision is planned toward the end of this year instead of its initial target of March, Toasaporn Boonyapipat, president and CEO of PTTGC America, said in a statement.

“We now anticipate reaching a final investment decision in late 2017, which is several months later than what we anticipated,” he said in a press released issued Tuesday afternoon.

Boonyapipat said that the project requires additional attention related to the initial designs that were submitted to the company by two engineering, procurement and construction contractors. “We recognized the need for further discussions with each of them so that we will be in a stronger position to make our decision on the engineering design and economic feasibility of the project,” he said.

“PTTGC America considers this process to be critical to the success of the project,” he said. “We are committed to utilizing all of our resources and in order to ensure that all technical and economic criteria are met.”
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