PTT Global Signs Cracker MOU with JobsOhio
YOUNGSTOWN, Ohio – PTT Global Chemical has signed a memorandum of understanding with JobsOhio, an indication that the Thailand-based petrochemicals giant hasn’t walked away from its plans to build a $6 billion ethane cracker plant in Belmont County.
According to a release posted on the company’s website, PTTGC America’s president and CEO, Toasaporn Boonyapipat, signed the document along with John Minor, president and chief investment officer of JobsOhio.
The MOU pledges to establish a community infrastructure development plan “to continually enhance the well-being and quality of life for the communities in the area surrounding PTTGC America’s planned petrochemical complex in Belmont County.”
PTT Global still must make a final investment decision regarding the development of the cracker plant. That decision is expected by the end of this year.
PTTGC America, subsidiary of PTT Global, “continues to make significant progress on the petrochemical complex development project,” the company said.
“PTTGC America considers this process to be a critical pathway for the project’s success and is committing the resources needed to ensure that all technical and economic criteria are met before making its final investment decision for the project.”
Matt Englehart, spokesman for JobsOhio, said the MOU stands as an example of how the organization is working closely with PTTGC America to see the project through.
“The PTTGCA team’s perpetual work as well as its investment in time and resources demonstrates the company’s sincere hopes of making this project happen,” Englehart said. “We look forward to continuing this effort with PTTGCA and are hopeful that they can make a positive final investment decision in the coming months.”
The project is expected to create thousands of construction jobs and hundreds of full-time positions should the project move forward, the company said.
In February, Boonyapipat announced that the project had received three environmental permits related to site preparation. The plant would be constructed on land in Dilles Bottom along the Ohio River.
Copyright 2024 The Business Journal, Youngstown, Ohio.