PTTGCA seeks partner for US project after Daelim exit

HOUSTON (ICIS)–PTTGC America is looking for a new partner for its proposed polyethylene (PE) complex in the US after Daelim Chemical USA withdrew from the joint venture, the Thailand-based company said.

PTTGCA has yet to make a final investment decision on the project which will be built in Belmont county, Ohio. It intends to continue developing the project.

It could make an announcement about the complex by the end of this year or the early part of 2021, it said.

The timeline for the project has been delayed by about six to nine months because of disruptions caused by the coronavirus and because of volatile oil prices, the companies said in a joint statement.

The companies did not specify a reason for Daelim’s departure. However, both companies have reviewed the effect that the pandemic and oil prices have had on their investment projects.

The two want to ensure that their portfolios are well positioned for the future of the petrochemicals industry.

The proposed project would include a 1.5m tonne/year cracker as well as PE plants.

Earlier, PTTGC America obtained an extension on an air permit needed to build the proposed cracker.

Additional reporting by Zachary Moore

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Thumbnail image shows a test tube filled with PE pellets. Photo by Al Greenwood