Thailand’s PTT Global Chemical (PTTGC) and its partner Daelim Chemical USA, a subsidiary of South Korea’s Daelim Industrial, aim at making a final investment decision for a petrochemical project in Mead Township, Belmont County, Ohio by the mid-2020, PTTGC CEO Kongkrapan Intarajang said.
As SSESSMENTS.COM noted, PTTGC’s subsidiary PTTGC America, which works for the project, recently received a $20-million grant from JobsOhio for the project. This is in addition to a $30-million grant provided by the same private non-profit corporation in July.
The construction of the project is expected to take 4–5 years to complete. CEO Kongkrapan said the project was part of PTTGC’s plan to expand its international investment portfolio from 30% of total CapEx currently to more than 50% by 2030. It also plans to boost the revenue share from overseas operations to 60% by that year. PTTGC has an overseas investment budget of THB 150–200 billion ($4.8–6.4 billion), excluding loans.
Previously SSESSMENTS.COM reported that the project would have a 1.5 million tons/year ethane cracker and 1.6 million tons/year of downstream capacity, including high-density polyethylene (HDPE), linear low-density PE (LLDPE) and metallocene linear low-density PE (mLLDPE). However, a project spokesman recently said that the downstream capacity might be reconfigured.
Tags: Americas,EN Ethane United States NSS,EN Ethylene United States NSS,English,EN PE UNITED STATES NSS,Ethane,Ethylene,NewsSSESSMENTS,PlantsSSESSMENTS,Polyethylene (PE),United States Daelim,PTTDLM petrochemical project,PTTGCFebruary 13, 2020 12:21 PM