16 January 2012 10:08 [Source: ICIS news]
SINGAPORE (ICIS)--US-based Renewable Manufacturing Gateway (RMG) and Aither Chemicals said on Monday they have signed a deal to build a petrochemical plant in the US that will use natural gas feedstock extracted from the Marcellus Shale deposit.
With an investment of $750m (€593m) over the next five years, the project is expected to generate $463m in annual sales by 2016, the two firms said in a statement.
The exact location and further details of the new plant were not disclosed.
The project is also expected to create over 2,000 construction jobs, 200 permanent direct production jobs and many thousand indirect jobs in a tri-state region which consists of western Pennsylvania, eastern Ohio, and n?xml:namespace>
“Together, RMG and Aither will finance and build one of the largest manufacturing plants that has been built in the region for the past few decades,” said Leonard Dolhert, CEO of Aither Chemicals.
“This will create many jobs and help the regional economy significantly,” Dolhert added.
The new unit will use Aither Chemicals’ ethane catalytic cracker technology, according to the statement.($1 = €0.79)
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections