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Firm pays back $20M, insists petrochemical project viable

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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.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.

 

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