PTTGCA purchases land for proposed US cracker ahead of late-2017 FID

03 July 2017 20:41 Source:ICIS News

HOUSTON (ICIS)--PTTGC America has exercised a purchase option on a 168-acre property in Belmont County, Ohio, for a proposed ethane cracker that it expects to make a financial investment decision (FID) on late this year, a spokesperson for the project confirmed on Monday.

“Although PTTGCA will not make a final investment decision for several months, the company determined it would be prudent to purchase the property because of how critical it is to the project,” said Dan Williamson, senior vice president of communications firm Paul Werth Associates.

The subsidiary of Thailand-based PTT Global Chemical (PTTGC) has not confirmed the cost of the transaction.

However, FirstEnergy Corp spokesperson Jennifer Young confirmed that the sale of its former Burger plant property to PTTGCA was completed on 8 June for $13.86m.

“PTTGCA is still determining precisely how much property it will need for the project,” Williamson said, adding that more property would be required.

The company has said that the planned ethane cracker complex at Belmont County, Ohio, will have an ethylene capacity of 1m tonnes/year and will have two 350,000 tonne/year high density polyethylene (HDPE) units; will produce 500,000 tonnes/year of monoethylene glycol (MEG); and 100,000 tonnes/year of ethylene oxide (EO).

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By Tracy Dang