News

This March 15, 2018 photo shows a natural gas drill rig in Belmont County, Ohio.
This March 15, 2018 photo shows a natural gas drill rig in Belmont County, Ohio. Residents in the eastern Ohio county and local and state officials are hoping to see an economic turnaround thanks to a proposed project by Thailand’s PTT Global Chemical to turn a byproduct of natural gas drilling into the raw material used to produce plastic products. PTT Global Chemical and its new South Korean partner are taking halting steps toward building a multibillion-dollar petrochemical plant that would create the material for plastics by “cracking” molecules of ethane, a byproduct of natural gas drilling. [AP Photo | Paul Vernon]

Plan for Ethane ‘Cracker’ Plant in Belmont County Takes a Step Forward

By:
Posted on:

< < Back to

CLEVELAND (AP) — A partnership proposing to build an ethane “cracker” plant in Ohio has reached economic development agreements to pay two government entities millions in the coming years.

A spokesman says that while the agreements are an important step, PTTGC America and Daelim Chemical USA have not made an investment decision on building the multibillion-dollar plant in southeast Ohio’s Belmont County.

The partnership said the Shadyside Schools and Mead Township would receive $47.5 million as part of a state-sponsored enterprise zone agreement that would exempt the project from property taxes for 15 years.