South Korean Firm Joins PTT Global In Cracker Project
Yet another Asian firm is now involved in the process to bring a multi-billion-dollar ethane cracker to Belmont County, as South Korea’s Daelim Industrial Co. joins Thailand’s PTT Global Chemical.
With an estimated price tag of up to $6 billion, progress seems to continue on the massive project, though perhaps not at the pace some would prefer. Still, on Tuesday, officials representing the companies announced their joint efforts to conduct engineering and design plans for the ethane cracker.
Local and state officials initially announced the massive project in April 2015, while PTT leaders joined Ohio Gov. John Kasich to confirm plans to spend at least $100 million for engineering and design work in September 2015.
Nearly three years after the initial announcement, however, the project is still not official. It may yet take a while, too, as the company said Tuesday: “The final investment decision is expected to be made by the end of 2018.”
PTT spokesman Dan Williamson confirmed that San Francisco-based Bechtel Corp. and Irving, Texas-based Fluor Corp. also continue working on plans to build the massive facility.
Ethane is one of the liquid forms of natural gas prevalent in Marcellus and Utica shale wells.