Firm pays back $20M but insists Belmont County petrochemical project is viable< < Back to
CLEVELAND (AP) — The U.S. subsidiary of a Thailand-based petrochemical giant has repaid Ohio’s private economic development office $20 million after it failed to make an investment decision in 2020 on a proposed petrochemical plant in the state.
Spokespersons for PTT Global Chemical America and JobsOhio insisted this week the company still plans to build the multi-billion dollar plant in southeast Ohio’s Belmont County once it has found a finance partner.
JobsOhio spokesperson Matt Englehart says the pandemic delayed PTTGCA’s final investment decision.
PTTGCA spokesperson Dan Williamson says the company has spent $300 million thus far on a facility that will produce raw materials for products that range from plastic bottles to vehicle parts.