He said this development would create thousands of construction jobs and hundreds of permanent positions for our state.
Initially, the estimated cost of the cracker plant to be built along the Ohio River was $5.7 billion.
"We hope to have Daelim and PTT reach a final investment decision later this year", Minor added.More news: Kwiatkowski wins Tirreno-Adriatico, Dennis takes final stage
Belmont County commissioners J.P. Dutton, Josh Meyers and Mark Thomas also attended the event.
The announcement came just weeks after a subsidiary of PTTGC, the petrochemical affiliate of Thailand's state-owned oil and gas company PTT pcl, said it would team up with Daelim to conduct a feasibility study and secure funding for the planned multi-billion dollar facility.
The Republican governor announced a new business partnership Monday between Seoul-based Daelim (day-LIHM') Industrial and Thailand's PTT Global Chemical that he called a "game-changer" for the proposed ethane "cracker".More news: WINTON GROUP Ltd Purchases 15978 Shares of Sherwin-Williams Co (SHW)
"It's a great day for Belmont County, the state of Ohio and the entire Ohio Valley", Thomas said. "While we remain cautiously optimistic that PTT/Daelim will give us a positive answer this year, today's press conference reaffirms their full commitment to the Belmont County site". Monday, JobsOhio President and Chief Investment Officer John Minor said this investment has already topped $150 million. "One, this adds a second world-class company to this project.With the addition of Daelim, the production, the output from this plant will almost double". The company has also completed a significant amount of site preparation.
In what JobsOhio President John Minor called another key step "toward the finish line", PTTGC has also executed an option to buy the remainder of the almost 500-acre site along the Ohio River where the cracker would be built. While they wait, Dutton said county leaders are making efforts to prepare the local workforce. He said the timing of the announcement is a good sign.
Kasich says he thinks it'll happen because the site is the most shale rich piece of property in the United States. Frank Hoagland, R-Mingo Junction; Ginny Favede of Project BEST; and Mead Township Trustee Ed Good, among others.More news: Shah Rukh Khan's daughter Suhana shoots for her first magazine cover