Read more - JobsOhio

April 22, 2015
Rob Nichols, Governor’s Office, (330) 760-7582, [email protected]
Matt Englehart, JobsOhio, (614) 300-1152, [email protected]
BELMONT COUNTY NAMED FINAL CANDIDATE FOR POSSIBLE PETROCHEMICAL FACILITY
Global Chemical Group Selects Ohio for Potential Multi-Billion Dollar Investment
COLUMBUS – Today Governor John R. Kasich announced that PTT Global Chemical
(PTTGC), Thailand’s largest integrated petrochemical and refining company, and its
project partner, Marubeni Corporation, a Japan-based company, have selected a site in
Belmont County, Ohio for the possible construction of a world-scale petrochemical
complex, also known in the industry as an ethane cracker. With a site now selected,
PTTGC and Marubeni will take the next 12-to-16 months to complete the detailed
engineering design and permitting at the Ohio site.
For nearly two years, PTTGC and Marubeni have considered project sites across the
Utica and Marcellus shale region. JobsOhio, the private, non-profit corporation designed
to drive job creation and capital investment in Ohio, has worked with the companies
throughout this time and led the effort to move this project forward in Ohio.
“Ohio is at the center of America’s new energy industry, and the smart companies want to
come here to be part of the great things that are happening. We are one step closer to
landing a new, multi-billion dollar investment in eastern Ohio, and that’s exciting news for
our state, the region and Belmont County,” said Kasich. “There is more work ahead
before final decisions on this project are made, but I know our Ohio team will do
everything we can to bring it fruition. We are excited about the possibility of working with
companies of the caliber of PTTGC Global and Marubeni. A project of this size can help
lift the region forever.”
If constructed, the ethane cracker would utilize ethane extracted from the region’s
Marcellus and Utica Shale formations. The facility would then “crack” the ethane into
ethylene, which is used as a basis for plastics and resins contained in everyday items
such as food and product packaging, textiles and pharmaceuticals.
“Working with JobsOhio and the state over the past two years has been a positive
experience and we look forward to moving this project into the next phase,” said Dr.
Kongkrapan Intarajang, Executive Vice President of International Business Relations for
PTTGC. “While we have not yet made final decisions on this investment, we will continue
to work with Governor Kasich, JobsOhio and all of the local partners in an effort to make
our vision a reality.”
John Minor, President and Chief Investment Officer of JobsOhio, added, “This project has
been a truly collaborative effort, resulting in this good news for eastern Ohio and the
state. JobsOhio’s David Mustine and Matt Cybulski played leading roles working with
PTTGC and Marubeni along with our regional partner Appalachian Partnership for
Economic Growth and local development partners. I thank them for playing such integral
roles in advancing the project to this point. An ethane cracker in Belmont would facilitate
additional investments in the growing shale and petrochemical industries, and with
greater investments come more job opportunities for Ohioans.”
PTTGC and Marubeni are expected to make a final investment decision in 2016. Should
the project move forward, construction of the ethane cracker facility would take an
estimated three and a half years to complete.
About PTT Global Chemical
PTT Global Chemical PCL conducts its business in the Petrochemical and Chemical
Sectors. It was ranked in the Top 10 of the Dow Jones Sustainability Indices (DJSI) for
the second consecutive year and was ranked twenty-second among world-leading
petrochemical companies on the ICIS Top 100 Chemical Companies listing. The
company has seven main business lines and currently has the production capacity of
chemical and petrochemical products of 8.8 million ton/year and the refinery capacity of
crude oil and condensates of 280,000 Bbl/Day. In addition, it places high value on making
investment to expand to specialties chemical products and green chemicals.
About Marubeni Corporation
Marubeni Corporation was founded in 1858 and is headquartered in Tokyo, Japan.
Through its local and international network, Marubeni Corporation provides products and
services in a broad range of sectors, encompassing import and export as well
as transactions in the Japanese market, related to food materials, food products, textiles,
materials, pulp and paper, chemicals, energy, metals, machinery, finance logistics,
information technology, infrastructure development and a range of other fields, including
resources development and investments on a global level.
About JobsOhio
JobsOhio is a private, non-profit corporation designed to drive job creation and new
capital investment in Ohio through business attraction, retention, and expansion efforts.
Learn more at jobs-ohio.com.
About APEG
The Appalachian Partnership for Economic Growth (APEG) is one of six JobsOhio
Regional Network Partners. APEG works to accelerate sustainable business growth, job
creation and advancing the economy of Southeast Ohio.
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