June 13, 2020 Read More →

PTT, Daelim announce completion of demolition work at cracker plant site

The Times Leader:

PTT Global Chemical America and Daelim Chemical USA reached a minor milestone in their progress toward construction of an ethane cracker plant on Friday.

Project spokesman Dan Williamson said demolition of all unoccupied structures on properties that have been purchased for the potential petrochemical complex have been razed, as of Friday morning.

“We have taken down 12,” Williamson said, noting two of the purchased homes still have people living in them and, this, remain standing. He said the vacant buildings “are all down now and cleared properly and safely.”

Individuals and organizations that oppose the development have said in recent weeks that the venture will not be as profitable as once believed for a variety of reasons. Bev Reed, an organizer with Concerned Ohio River Residents, issued a news release Thursday that cites a new report by the Institute for Energy Economics and Financial Analysis.

“Now is the time to focus on bringing our communities economic prosperity, and we must be careful not to invest blindly into a dying industry who will leave us worse than when we started,” Reed stated.

The report focuses on the Shell Chemical cracker plant being constructed 70 miles to the northeast in Monaca, Pennsylvania. The analysts report that profitability of the project is weakened and riskier for investors due to not just the COVID-19 pandemic, but multiple factors that existed before the pandemic, including the price of plastics falling 40-60 cents per pound since 2016. According to Reed, the report also states there is an oversupply of ethane/ethylene crackers and plastics manufacturing facilities, and a general slowing of the U.S. and global economies.

[Jennifer Compston-Strough]

More: Cracker plant preparations continue despite pandemic

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