Ethane cracker chemical complex in planning for Ohio Valley

From a Pulse Item by Choi Jae-won and Choi Mira, Maeil Business News (Korea), January 30, 2018

Daelim Industrial Co., a South Korean construction and petrochemical company, will put up about $131 million to establish a petrochemical complex in Ohio, the United States, in partnership with Thailand’s largest petrochemical and refining firm PTT Global Chemical (PTTGC).

The company announced in a disclosure that it plans to sign an investment agreement with PTTGC’s U.S. subsidiary PTTGC America to construct and jointly operate an ethane cracking center (ECC) that discomposes ethane to produce ethylene and a polyethylene plant. It said it would invest up to 140 billion won ($130.7 million) in the joint project. Details of the plan including the size of investment and stake share will be worked out by the end of this year.

Ohio is home to shale gas reserves and rich in ethane. Its geographic proximity to the U.S. eastern region that takes up 70 percent of the country’s polyethylene market also could save logistics cost.

Once operation begins four to five years later, the complex will produce 1.5 million tons of ethylene and polyethylene a year.

Shares of Daelim Industrial are publicly traded in Seoul (South Korea).

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