Plans by a Thai petrochemical firm to build an ethylene cracker in the US state of Ohio are starting to materialize.
Thailand’s state-owned petrochemical corporation PTT Pcl’s global chemical arm, PTT Global Chemical (PTTGC), is looking to finance a US$6 billion (about THB218 billion) ethane cracker in Belmont County, southeast Ohio.
With the firm planning to spend $100mn (B3.6bn) on an engineering design plan, construction of the facility could begin as early as next year, though is pending a feasibility study.
The prospective site is near the Mead township, along the Ohio River, in the heart of the Utica Shale. Once given the green light, construction would take approximately three years to complete with operations commencing as soon as 2020.
Also, see related news about Bangkok plastics firm investing in ethane cracker in Louisiana.
Following is more information about Ohio-Thailand Trade
According to the State by State Asien Briefing website , international trade between the State of Ohio and Thailand were worth nearly a billion baht; namely, exports from Ohio to Thailand in 2014 were valued at $414.06 million or B13.25 billion, representing an increase of 26.5% year-on-year, while imports of Thai goods into Ohio were worth $557.18 million (B17.8 billion). This made Thailand Ohio’s third largest trading partner in Asean, while also being the state’s fourth largest market for Oil Seed, Grains and Fruit category, with respective exports to Thailand valued at $74mn or B2.3bn.
Meanwhile, French-headquartered energy firm Technip has announced that it has entered into contract with PTT to supply proprietary ethylene technology that would be used for the Ohio ethane operation.