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PTT Global Chemical says investment decision on Ohio cracker to come in 2H
HOUSTON, February 14, 2017 (PCW) – Thailand’s PTT Global Chemical said on Tuesday it would make a final investment decision on its joint-venture Ohio ethane cracker in 2H 2017.
A decision was originally expected last year.
The proposed 2.2 billion lbs/yr ethane cracker also has associated downstream units that would produce 1.54 billion lbs/yr HDPE, 1.1 billion lbs/yr monoethylene glycol and 220 million lbs/yr ethylene oxide. Marubeni is PTT’s joint-venture partner in the project.
In it a release detailing its earnings for fiscal year 2016, PTT said it was continuing to study the project with an eye on recruiting more potential investment partners.
Last November, PTT in an earnings release expressed concern about economic uncertainty, supply availability and shale gas prices.
The project has an estimated cost of $5.7 billion. -- Samantha Hartke