PTT pays back $20M, remains committed to petrochemical project
Monday, April 4, 2022
The U.S. subsidiary of Thailand-based petrochemical company PTT Global Chemical repaid Ohio’s private economic development office $20 million after it didn’t make an investment decision on a proposed petrochemical plant in Belmont County, according to The Washington Post.
Both PTT Global Chemical America and JobsOhio said the multi-billion-dollar project remains viable as the firm continues searching for an investment partner.
The $20 million had been paid to Bechtel Corp. in 2019 to conduct site engineering and preparation for a plant that would convert ethane into different types of polyethylene, raw materials for plastic products.
Learn more: The Washington Post > Firm pays back $20M, insists petrochemical project viable
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